•  
  • New York 17:48
  • London 21:48
  • Barcelona 22:48
  • Tokyo 06:48
  • Sydney 08:48
  • SignUp | Login

Short Term Analysis

GBPUSD consolidates in a narrow range

Mon, Jan 12 2009, 01:54 GMT
by Franco Shao

ForexCycle.com  |  View company's profile


Vote:

0

0

GBPUSD consolidates in a narrow range between 1.4983 and 1.5372. As long as 1.4983 level holds, we’d expect uptrend to resume, and further rally could be expected to retest 1.5722 previous high resistance. However, a break above 1.5372 level is needed to confirm the resumption of the short term bullish movement. On the other side, below 1.4983 will indicate that lengthier consolidation of the short term uptrend from 1.4350 is underway.


GBPUSD 4H Chart


Archive


Legal disclaimer and risk disclosure

Investment and trading decisions are solely your responsibility. None of the ForexCycle.com newsletters or web site materials should be interpreted as a recommendation or solicitation to take any short or long positions, or to take any specific action.
Vote:

0

0

Related reports

USD higher, Greek debt worries, India hikes rates by Easy Forex
Fri, Mar 19 2010, 18:04 GMT

Stock Traders focusing on Quadruple Witching by ForexHound.com
Fri, Mar 19 2010, 14:36 GMT

Discount rate discussions keeping floor under bonds by Interactive Brokers LLC
Fri, Mar 19 2010, 14:29 GMT

GoldCore Update: Sterling Gold Near Record Highs as Election Looms and Economic Outlook Uncertain by GoldCore
Fri, Mar 19 2010, 14:28 GMT

U.S. Dollar strengthens Overnight; Risk Aversion Highlighted by ForexHound.com
Fri, Mar 19 2010, 14:26 GMT

gbpusd

[ View All ]

Related content

Forex: Cable fell sharply on Friday
FXstreet.com | Fri, Mar 19 2010, 19:19 GMT

Forex: GBP/USD breaks below 1.5100, approaching 1.5000
FXstreet.com | Fri, Mar 19 2010, 15:16 GMT

Forex: GBP/USD falls to test 1.5100
FXstreet.com | Fri, Mar 19 2010, 14:05 GMT

Forex: GBP/USD attempting recovery from 1.5125 low
FXstreet.com | Fri, Mar 19 2010, 11:55 GMT

Forex: GBP/USD extends below 1.5200, hits 1.5130 session low
FXstreet.com | Fri, Mar 19 2010, 08:56 GMT

gbpusd

[ View All ]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.