DAILY GBP/USD TECHNICAL OUTLOOKLast Update At 30 Sep 2015 00:15GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
1.5161
55 HR EMA
1.5180
Trend Hourly Chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
46
14 HR DMI
-ve
Daily Analysis
Consoldiation b4 one more fall
Resistance
1.5261 - Last Fri's high
1.5241 - Mon's high
1.5205 - Y'day's high
Support
1.5128 - Y'day's low
1.5108 - 100% proj. of 1.5383-1.5201 fm 1.5290
1.5088 - May's low (06)
. GBP/USD - 1.5157... Despite moving sideways abv Mon's 1.5157 low in Asia n Europe y'day n a brief recovery to 1.5205, renewed cross-selling in sterling knocked price to a 4-1/2 month low of 1.5128 in NY b4 staging a recovery.
. On the bigger picture, cable's break of previous Sep's 1.5164 low on Fri to a 4-1/2 month trough of 1.5128 y'day confirms early fall fm Jun's 1.5930 top to correct the medium-term rise fm 2015 near 5-year bottom at 1.4566 (Apr) has resumed n price is en route to 1.5087, this is a 'dynamic' 61.8% r of aforesaid upmove fm 1.4566. Having said that, as both hourly n daily technical indicators' readings would display bullish convergences on such fall, 'psychological' sup level at 1.5000 may hold on 1st testing n bring rebound. Looking ahead, below 1.5000 needed to retain bearish prospect of further losses twd 1.1857 n only a daily close abv 1.5330 signals temp. low is made n risks gain twd 1.5390/00.
. Today, although y'day's rebound fm 1.5128 to 1.5171 suggests sideways move abv said temp. low would continue ahead of U.K. GDP, as long as 1.5205 holds, one more fall is likely but bullish convergences on hourly indicators should keep price abv daily sup at 1.5088. Abv 1.5205 may risk 1.5236/41.
_20150930071859.png "gbp")
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
US Nonfarm Payrolls surprised to the downside in April, showing a gain of 175K jobs – LIVE
The job creation in the US economy seems to have slowed its pace after Nonfarm Payrolls figures reported an increase of 175K jobs in April, coming in short of consensus for a 243K gain.
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.