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GBP/USD Emerging Signal

admin — Mon, 26 Sep 2011 21:38:19 +0000

The pair is still mildly correcting the sharp declines that occurred during the previous period, where the secondary image of the four-hour interval suggests that the upside actions from the pivotal support of 1.5330 should be treated as a recovery. The bearishness is still favored during this week due to the negativity of the weekly time scale as the pair didn’t reach the scientific technical objective of the double top formation. We might see some kind of fluctuation due to the oversold sign on Stochastic, but if 1.5330 is taken, the pair will neglect this sign.

The trading range for this week is among key support at 1.5000 and key resistance at 1.5820.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5390, 1.5330, 1.5255, 1.5180, 1.5075
Resistance: 1.5515, 1.5630, 1.5690, 1.5780, 1.5820

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5495 targeting 1.5180 and stop loss above 1.5690 might be appropriate.

GBP/USD Emerging Signal

admin — Thu, 22 Sep 2011 22:17:17 +0000

The pair fell freely after stabilizing below the neckline areas of our caught double top formation of the weekly studies. Our classical pattern has proved its efficiency during this week, taking the pair towards the first short technical objective at 1.5475. Since we previously defined 1.5475 to be the first target for the current bearishness, we will talk today about the next targets as we still believe that the bearishness will continue over intraday basis, where 1.5335 becomes under our technical microscope. In fact, the scientific technical targets of the pattern reside below the psychological levels of 1.5000, but the pair should clear 1.5335, followed by 1.5180; whilst another potential harmonic support is seen at 1.5255 -check the harmonic outlook-. The long black candlestick formation of the daily basis supports our bearish overview.

The trading range for today is among key support at 1.5180 and key resistance at 1.5780.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5390, 1.5345, 1.5255, 1.5230, 1.5180
Resistance: 1.5515, 1.5545, 1.5630, 1.5690, 1.5780

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5495 targeting 1.5180 and stop loss above 1.5700 might be appropriate.

GBP/USD Emerging Signal

admin — Wed, 21 Sep 2011 23:37:49 +0000

The secondary four-hour graph shows how the pair has been trapped within a tight range since our last report was published; whilst the candlesticks structure indicates that the pair is gradually losing the upside correctional steam. Thereby, we hold onto our bearish predications over intraday basis, supported by the classical negativity appearing on the weekly studies where the double top is still in progress. A break of 1.5630 will trigger a panic sell-off over the upcoming period while the bearishness will be delayed with a break above 1.5935 zones.

The trading range for today is among key support at 1.5475 and key resistance at 1.5935.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5690, 1.5630, 1.5545, 1.5515, 1.5475
Resistance: 1.5780, 1.5820, 1.5880, 1.5935, 1.6000

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5755 targeting 1.5475 and stop loss above 1.5935 might be appropriate.

GBP/USD Emerging Signal

admin — Tue, 20 Sep 2011 02:00:46 +0000

The market has opened with a gap below the pivotal support -turned into resistance- of 1.5780 as seen clearly on the secondary four-hour graph. As we numerously discussed, this level represents a neckline for a potential double top over weekly studies; whilst the negative pressure from moving averages combination continue affecting the pair. Thereby, we see chances for achieving additional downside actions during this week, supported by the negativity on Stochastic. Of note, the gap might be cover before resuming the classical bearish trajectory. Ultimately, a break below 1.5655 will accelerate the awaited wave.

The trading range for this week is among key support at 1.5345 and key resistance at 1.6190.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5655, 1.5545, 1.5515, 1.5475, 1.5345
Resistance: 1.5780, 1.5880, 1.5935, 1.6000, 1.6075

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5750 targeting 1.5475 and stop loss above 1.5940 might be appropriate.

GBP/USD Emerging Signal

admin — Wed, 14 Sep 2011 19:11:50 +0000

The secondary image of the four-hour interval still reflects the consecutive negative pressure, where we can notice how SMA 20 -colored in green- and SMA 50 are currently offering solid resistance for the pair over intraday basis. Assessing the weekly studies which we depended on them since the beginning of this week, we are witnessing an obvious bearish tendency that took the pair below the previous detected former support of 1.5780. Henceforth, these price behaviors are seen as the first step of activating the double top pattern for the upside rally from 1.4225 zones. Consequently, we hold onto our bearish predictions; whilst a break below 1.5720 will accelerate the classical downside wave.

The trading range for today is among key support at 1.5515 and key resistance at 1.6025.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5720, 1.5690, 1.5655, 1.5545, 1.5515
Resistance: 1.5780, 1.5820, 1.5880, 1.5935, 1.6000

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5780 targeting 1.5475 and stop loss above 1.6000 might be appropriate.

GBP/USD Emerging Signal

admin — Tue, 13 Sep 2011 18:47:58 +0000

Today, we will look classically at the four hour chart -secondary image- where we will notice that, SMA 20 & SMA 50 combination which represents the statistical trend line for the intraday are covering the pair as well. Of note, the price action from 1.5773 -yesteray’s recorded low- should be seen as a normal effect for touching SMA 100 over weekly basis where the pair has met the PRZ of our previous discussed butterfly pattern formed on the daily chart -check the previous report-. In the interim, the classical double top on the weekly graph should beat the daily harmonic structure. To conclude this collection of time frames, the fluctuation might continue over intraday basis below the ceiling -SMA 20 and 50- of the four hour interval and this fluctuation is a reaction for touching important short term pivotal support areas, but the bearishness on the weekly chart is clear. Thus, we look forward to witness a sustained breakout below 1.5780 to activate the double top pattern.

The trading range for today is among key support at 1.5515 and key resistance at 1.6075.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5820, 1.5780, 1.5720, 1.5690, 1.5655
Resistance: 1.5880, 1.5935, 1.6000, 1.6025, 1.6075

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.5880 targeting 1.5595 and stop loss above 1.6075 might be appropriate.

GBP/USD Emerging Signal

admin — Mon, 12 Sep 2011 21:45:44 +0000

The pair has collapsed during the past week, respecting our previous efficient harmonic analysis over the daily basis -check the previous report- and now, it becomes very close to the PRZ of the previous suggested harmonic butterfly pattern at 1.5780. This level represents the neckline of the potential double top pattern formed over weekly studies for the upside rally from 1.4225 as seen on the provided chart. Thus, touching this level will cause fluctuation, but the bigger time weekly frames could beat the daily basis due to the negativity on the candlestick pattern and the bearish sign on Stochastic. Consequently, we recommend joining the classical bearish trend after it clears 1.5780 zones.

The trading range for this week is among key support at 1.5475 and key resistance at 1.6250.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5780, 1.5690, 1.5655, 1.5515, 1.5475
Resistance: 1.5935, 1.6000, 1.6105, 1.6190, 1.6250

Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.5780 targeting 1.5475 and stop loss above 1.6000 might be appropriate.

GBP/USD Emerging Signal

admin — Wed, 07 Sep 2011 17:15:38 +0000

The pair dropped to reach just near our targeted area and the possible first potential reversal zone for the harmonic pattern we mentioned yesterday. We expect a rebound to the upside today affected by the harmonic pattern targeting initially the 200 SMA and X point of the butterfly around 1.6100-1.6120.

The trading range for today is among key support at 1.5780 and key resistance at 1.6310.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.5935, 1.5875, 1.5820, 1.5780, 1.5700
Resistance: 1.6000, 1.6060, 1.6120, 1.6180, 1.6225

Recommendation Based on the charts and explanations above our opinion is, buiying the pair around 1.5950 targeting 1.6100, followed by 1.6260 and stop loss below 1.5780 might be appropriate.

GBP/USD Emerging Signal

admin — Thu, 01 Sep 2011 14:02:48 +0000

Bearishly influenced by yesterday’s explained bearish engulfing candlestick pattern, the pair has slumped attacking SMA 50 as seen on the provided daily graph. Moreover, we have finally witnessed a negative closing below the pivotal support areas of 1.6250; thus, the path is classically clear towards 1.6105 zones, followed by the psychological levels of 1.6000. The bearish sign on Stochastic became clear; whilst MACD traditional kept its negativity, adding further confirmation to our constructive bearish overview. A break of 1.6190 will accelerate the awaited downside wave.

The trading range for today is among key support at 1.6000 and key resistance at 1.6500.

The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.6190, 1.6075, 1.6025, 1.6000, 1.5935
Resistance: 1.6310, 1.6365, 1.6420, 1.6470, 1.6500

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 1.6250 targeting 1.6025 and stop loss above 1.6430 might be appropriate.

GBP/USD Emerging Signal

admin — Thu, 01 Sep 2011 00:26:49 +0000

Yesterday’s aggressive decline has been capable of creating a bearish candlestick formation which is very close to be a bearish engulfing pattern. Although the pair is still stable above SMA 50 but the negativity appearing on MACD traditional argues us to suggest potential downside actions over intraday basis. In the interim,Stochastic started to lose its upside steam despite moving close to oversold areas. All what we need is to witness a sustained break back below yesterday’s low to visit 1.6000 zones as this awaited breakout will weaken 1.6205 zones and 1.6105 areas, seen on the provided graph.

The trading range for today is among key support at 1.6075 and key resistance at 1.6550.

The general trend over short term basis is to the downside, targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Support: 1.6250, 1.6225, 1.6190, 1.9075, 1.6025
Resistance: 1.6365, 1.6420, 1.6470, 1.6500, 1.6550

Recommendation Based on the charts and explanations above our opinion is, selling the pair below 1.6250 targeting 1.6025 and stop loss above 1.6430 might be appropriate.