Daily Technical Strategist: GBPUSD

[FXTechstrategy Team 10]

GBPUSD: With bullish offensive seen above the 1.6000/50 levels, the risk is for GBP to recapture the1.6112 level. Price hesitation may occur here and then turn the pair back lower but if it breaks, expect further upside to shape up towards the 1.6180 level, its May 10’2012 high. Further out, resistance resides at 1.6300 level, its April’2012 high. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, support comes in at the 1.6000/1.5909 levels. A reversal of roles as support is likely to occur here and turn the pair higher. However, if this fails, the 1.5774/78 level will be aimed at. Below here if seen could see the pair return to the 1.5457 level and then the 1.5391 level. On the whole, GBP faces an immediate upside risk into the new week.

 

[FXTechstrategy Team 10]

GBPUSD: Consolidating With Upside Bias.

 

GBPUSD: The pair may be hesitating following its recent strength but continues to hold on to its broader upside. This development now leaves GBP targeting the 1.6272 level where a breach will pave the way for a move higher towards the 1.6300 level. Further out, resistance stands at the 1.6350 level with a cut through here allowing for more gains towards the 1.6400 level. On the downside, support comes in at 1.6162 level where a violation will trigger further declines towards the 1.6100 level. A break and hold below here will aim at the 1.6050 level. We expect a halt in declines to occur here and turn GBP higher again. On the whole, GBP faces further upside risk medium term.

 

[jonnyfx 10]

GBPUSD: Consolidating With Upside Bias.

 

GBPUSD: The pair may be hesitating following its recent strength but continues to hold on to its broader upside. This development now leaves GBP targeting the 1.6272 level where a breach will pave the way for a move higher towards the 1.6300 level. Further out, resistance stands at the 1.6350 level with a cut through here allowing for more gains towards the 1.6400 level. On the downside, support comes in at 1.6162 level where a violation will trigger further declines towards the 1.6100 level. A break and hold below here will aim at the 1.6050 level. We expect a halt in declines to occur here and turn GBP higher again. On the whole, GBP faces further upside risk medium term.

 

 

looks like it will go down

[FXTechstrategy Team 10]

GBPUSD: Faces Bear Threats On Price Failure.

 

GBPUSD: The pair saw a sharp sell off on Thursday, reversing most of its recovery gains and turning risk lower. This leaves the 1.5976 level as the next downside objective. Further down, support lies at the 1.5774/78 level with break of there turning attention to the 1.5457 level. Its daily RSI is bearish and pointing lower suggesting further declines. Alternatively, GBP must return above the 1.6177 level to reverse its present weakness. This if seen will pave the way for a run at the 1.6215 level. This could push the pair further higher towards the 1.6350 level. A breach will allow for more gains towards the 1.6400 level. On the whole, GBP has halted its upside offensive and turned lower with eyes on the 1.5976 level.

 

http://2.bp.blogspot.com/-WaLwxI1MRDQ/UIEeZ4kr6cI/AAAAAAAAGA4/q1QsDByE7eY/s1600/gbpusd200001bb.gif

[FXTechstrategy Team 10]

GBPUSD: Bearish, On The Defensive.

 

GBPUSD: With GBP weak and vulnerable into the new week, it faces further bear threats towards its Oct 09’2012 low at 1.5976. On a decisive break and hold below here, the stage will be set for more declines towards the 1.5774/78 level with breach turning attention to the 1.5457 level. Its weekly RSI is bearish and pointing lower suggesting further declines. Alternatively, GBP will have to return above the 1.6177 level to reverse its present weakness. This if seen will pave the way for a run at the 1.6215 level. This could push the pair further higher towards the 1.6350 level. A breach will allow for more gains towards the 1.6400 level. On the whole, GBP continues to face downside pressure as it looks to weaken further.

 

[FXTechstrategy Team 10]

GBPUSD: With the pair breaking and holding below the 1.5976 level, the risk of further weakness cannot be ruled out. Though seen taking back some of those losses in early trading today, it continues to remain vulnerable. Support lies at the 1.5911 level with a cut through there opening the door for a move lower towards the 1.5774/78 level. A break of here will turn attention to the 1.5457 level. Its daily RSI is bearish and pointing lower suggesting further declines. Alternatively, GBP must return above the 1.6177 level to reverse its present weakness. This if seen will pave the way for a run at the 1.6215 level. This could push the pair further higher towards the 1.6350 level. A breach will allow for more gains towards the 1.6400 level. On the whole, GBP has halted its upside offensive and turned lower with eyes on further downside.

[FXTechstrategy Team 10]

GBPUSD: Our upside target on further bullish offensive stands at the 1.6177 level. A break of here will reduce its broader bear threats. This if seen will pave the way for a run at the 1.6215 level. A push through here could see the pair target higher prices towards the 1.6350 level. Further out, resistance lies at the 1.6400 level. On the downside, support les at the 1.5976 level and the 1.5911 level. Further down, support comes in at the 1.5774/78 level with a break of here turning attention to the 1.5457 level. On the whole, GBP has halted its downside pressure but remains vulnerable.

 

[FXTechstrategy Team 10]

GBPUSD: GBP continues to weaken following g through lower today on the back of its last week strong sell off. This development now leaves the pair aiming at its key support located at the 1.5911 level, its Oct 23’2012 low. A decisive break below here will push the pair further lower towards the 1.5850 level and subsequently the 1.5774/78 level where a respite may be seen. However, if this fails to happen expect GPB to weaken further towards the 1.5457 level. Alternatively, on any pullback, immediate resistance lies at 1.6005 level but in order for the pair to convince the market it has ended its short term weakness, it will have to return above the 1.6215 level. This if seen will open up further offensive towards the 1.6350 level. On the whole, GBP continues to face downside pressure with the risk of recapturing its key support at 1.5911 level.

 

[FXTechstrategy Team 10]

GBPUSD: With GBP following through lower on the back of its past week losses, there is risk of further declines developing towards the 1.5826 level. A violation will pave the way for a move towards the 1.5774/78 levels with a cut through here setting the stage for a run at the 1.5700 level. Its daily RSI is bearish and pointing lower suggesting further declines. Alternatively, above the 1.6000 level and the 1.6215 level will have to be traded to annul its present downside vulnerability. Above here will open up further offensive towards the 1.6350 level followed by the 1.6400 level. On the whole, GBP continues to face downside pressure.

 

[FXTechstrategy Team 10]

GBPUSD: Our outlook on GBP remains the same with a recapture of the 1.6172 level looming. A breach of here will turn attention to the 1.6215 level. Above here will end its broader bearish threats and open up further offensive towards the 1.6350 level. Further out, resistance resides at the 1.6400 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6055 level where a break will turn focus on the 1.5900 level followed by the 1.5827 level. Further down, the 1.5774/78 levels come in as the next downside. On the whole, GBP continues to hold on to its upside bullish offensive.

 

[FXTechstrategy Team 10]

GBPUSD: While the pair’s broader bias may be pointing higher in the short term, it requires a break and hold above the 1.6130 level, its Dec 04’2012 high to resume that trend. This if seen will call for a push towards the 1.6172 level and then the 1.6215 level. Further out, resistance resides at the 1.6350 level followed by the 1.6400 level, its psycho levels. On the downside, if GBP fails to return above the 1.6130 level, further declines could develop towards 1.5987/60 levels. A violation of here will call for a run at the 1.5827 level. Further down, the 1.5774/78 levels come in as the next downside with a breach turning attention to the 1.5457 level. On the whole, GBP continues to hold on to its short term upside bias though facing bear threats.

 

[FXTechstrategy Team 10]

GBPUSD: We expect further upside offensive as GBP looks to retarget the 1.6168/72 levels. A breach of here will turn attention to the 1.6215 level with a cut through here ending its broader bearish threats and opening up further offensive towards the 1.6350 level. Further out, resistance resides at the 1.6400 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.6055 level where a break will turn focus on the 1.5900 level followed by the 1.5827 level. Further down, the 1.5774/78 levels come in as the next downside. On the whole, GBP continues to hold on to its upside bullish offensive.

 

[FXTechstrategy Team 10]

GBPUSD: With the pair following through higher on the back of past week rally, further upside is expected in the days ahead. Having climbed and held above the 1.6172/77 levels, its key resistance standing at the 1.6271 level is now beckoning. Further out, resistance stands at the 1.6350 level with a violation of here calling for a run at the 1.6400 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.6172/77 levels where a reversal of roles could occur and turn GBP back up. However, if this fails further decline will shape up towards the 1.6100 level where a violation will call for a run at the 1.6000 level and then 1.5900 level followed by the 1.5827 level. On the whole, GBP continues to hold on to its bullish bias with eyes on further upside.

 

[FXTechstrategy Team 10]

GBPUSD: The pair may have run into bears and closed marginally higher on Wednesday but it continues to maintain its upside bias. As long as it holds above the 1.6172/77 level, its broader upside view remains valid. This will leave the pair targeting the 1.6308 level where a violation will call for a run at the 1.6350 level. Further out, the 1.6400 level comes in as the next upside target. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support comes in at the 1.6215 level Oct 05’2012 high followed the 1.6171 level where a reversal of roles could occur and turn GBP back up. However, if this fails further decline will shape up towards the 1.6100 level where a violation will call for a run at the 1.6000 level and then 1.5900 level followed by the 1.5827 level. On the whole, GBP continues to hold on to its bullish bias with eyes on further upside.