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Great Britain Pound vs US Dollar H1 Live Forex Chart
GBPUSD,H1 Chart By darkdome
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darkdome
May 15, 2013 at 12:01
Sell Order of GDPUSD is near the trigger however it seems the Market seems still very indecisive about the anticipating recession. Fear still lingers.
darkdome
May 14, 2013 at 17:10
Technical Side:
Resistance Along 1.5230
and a Uptrend was constance the past month.
Price is now Close to 2 STD of BB + Resistance.
Fundamental Side:
USD -
US Import decrease increases the total Net Export.
+ US Stock Uped thus expecting the USD to strengthen
GDP -
Expectation of the GBP to remain pretty consistent due to constant weak growth in Britain + a Recession for Britain may be imminent.
Since UK recession fears linger this might causes selling of the pound. Causing it to weaken.
Overall:
GDP/USD will be expected to have a downtrend and a break from the 1.5300. A Sell pending order has been made a 1.5180 , TP - 1.50475, SL - 15240
Risk to reward:
2.2 : 1
It is possible for GDPUSD to still go on a short-term up trend that may test the 1.555 as a resistance but should not break it due to the negative expectation of the Pound dollar on the long term.
If I am wrong the Sell order should d not be triggered. and then we can go long after the price has crossed 1.53450.
Resistance Along 1.5230
and a Uptrend was constance the past month.
Price is now Close to 2 STD of BB + Resistance.
Fundamental Side:
USD -
US Import decrease increases the total Net Export.
+ US Stock Uped thus expecting the USD to strengthen
GDP -
Expectation of the GBP to remain pretty consistent due to constant weak growth in Britain + a Recession for Britain may be imminent.
Since UK recession fears linger this might causes selling of the pound. Causing it to weaken.
Overall:
GDP/USD will be expected to have a downtrend and a break from the 1.5300. A Sell pending order has been made a 1.5180 , TP - 1.50475, SL - 15240
Risk to reward:
2.2 : 1
It is possible for GDPUSD to still go on a short-term up trend that may test the 1.555 as a resistance but should not break it due to the negative expectation of the Pound dollar on the long term.
If I am wrong the Sell order should d not be triggered. and then we can go long after the price has crossed 1.53450.
