gbp-usd
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- Jul, 19 GBP/USD: Weakness Hinted After Channel Top Break
- Jul, 09 GBP/USD: Upswing Stalls at Channel Resistance
- Jul, 02 GBP/USD: Bulls Retain Momentum, Channel Top in Play
- Jun, 25 GBP/USD: Major Resistance Seen at Fib, Trend Line
- Jun, 18 GBP/USD: Prices Target 50% Fibonacci Retracement
- Jun, 11 GBP/USD: Bulls Continue Testing Fib Resistance
- Jun, 04 GBP/USD: Doji Suggests Down Trend May Resume
- May, 26 GBP/USD: Prices Find Channel Support, Hint Upswing
- May, 14 GBP/USD: Sellers Clear Path to Key Channel Support
- May, 07 GBP/USD: Sellers Set to Test Key Channel Support
- Apr, 26 GBPUSD: Consolidation Continues at Familiar Levels
- Apr, 19 GBPUSD: New Short Entry Sought Amid Reversal
- Apr, 09 GBPUSD: Prices Stall Ahead of Range Top
- Apr, 05 GBPUSD: Candles Signal Double Top Potential
- Mar, 26 GBPUSD: Target Nearly Met as Bears Return
- Mar, 19 GBPUSD: Stay Short Through Corrective Upswing
- Mar, 12 GBPUSD: Consolidation Continues Near 1.50 Figure
- Mar, 05 GBPUSD: Selling Stalls Below 1.50, Correction Possible Ahead
- Feb, 26 GBPUSD: Initial Objective Met, Targeting 1.50 From Here
- Feb, 19 GBPUSD: Channel Support Fading, Profit Target Ahead
Strategy: Flat
GBPUSD put in a bearish Dark Cloud Cover candlestick pattern below horizontal support-turned-resistance at 1.5529 and slid lower to test support at the intersection of a recently broken falling channel top established from Oct-Nov 2009 and the bottom of a shorter-term rising channel set from the lows in May. A Piercing Line candlestick formation at this juncture hints that bullish momentum may be set to resume from here, with 1.5529 back in play as near-term resistance, followed by an upside barrier at 1.5797. We don’t see an attractive trade setup here for the time being and will remain on the sidelines.
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