The GBPUSD attempted to push higher last week topped at 1.5335 but whipsawed to the downside and broke below the bullish channel and the H1 EMA 200 as you can see on my H1 chart below, suggests a potential bearish scenario. The bias is bearish in nearest term testing 1.5090 area. Immediate resistance is seen around 1.5200/25 area which seems to be a good place to sell with a tight stop loss.mail me at shailesh_goswami(at)yahoo(dot)com
The GBPUSD regained its bearish momentum last week, broke below the minor bullish channel as you can see on my H1 chart below suggests a bearish outlook. The bias is bearish in nearest term testing 1.5000 psychological support. A clear break and daily close below that area could trigger further bearish scenario testing 1.4850 region. Immediate resistance is seen around 1.5070. A clear break above that area could lead price to neutral zone in nearest term testing 1.5130 area.
The GBPUSD was indecisive last week. The bias is neutral in nearest term. Immediate resistance is seen around the trend line resistance and 1.5200 area as you can see on my H1 chart below which is a good place to sell with a tight stop loss targeting 1.5000 region. Immediate support is seen around 1.5080. A clear break below that area could trigger further bearish pressure testing 1.5000 region. My major technical outlook remains neutral.
I looked at the charts today and see that there was very little price action on most of the currency pairs. Traders I have looked at the charts and I have to say I do not like what I am seeing as there is very little price action. I would think this is that in a week the FOMC will announce the interest rate and if they are going to raise it, Traders are just staying on the side. Trades my suggestion is to trade a demo account…… Plan Your Trade and Trade your Plan ! OK let us take a look at the currency pair of the day that is the GBPUSD- This is the 30 minute chart.l have looked at this chart and remains in a very nice down trend. I would like to see price action give us a nice bearish candle below the daily pivot and we can enter this trade at the price of 1.4994. I am looking for a retest of the pivot for conformation. I would like to take profit at the support zone as marked on the chart and the S1 pivot point at the price of 1.4947. This could be a nice 40 pip trade today all we need is price action.
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