GBP/USD Analysis

[tgamin]

GBP/USD 30/7/8

1) Short-term Intraday analysis.
GBP is trading within 1.973-1.987 range with 1.98 middle being both support and resistance level for hourly and more frequent movements.
1.998
Long target 2
1.994
Long target 1
1.988
Buy break or sell short on a bounce back from 1.988 to 1.981
1.983
Neutral (current position)
1.975
Sell short or buy on a bounce at 1.981
1.972
Short target 1
1.9675
Short target 2

Intraday sentiment: neutral


2) Weekly perspective.

Pound is still within 1.974-1.987 trading range. Yesterday’s unconfirmed movement down to 1.976 level returns GBP/USD to the middle of the trading range at 1.98
2.003
Long target 2
1.994
Long target 1
1.988
Buy break or sell short on a bounce back from 1.988 to 1.981
1.983
Neutral (current position)
1.975
Sell short or buy on a bounce at 1.981
1.97
Short target 1
1.956
Short target 2

Weekly sentiment: neutral

[tgamin]

GBP/USD 31/7/8

1) Short-term Intraday analysis.
Nothing has really changed from yesterday and we see Pound being traded within 1.976-1.984 range for the past hours. As we stated yesterday “Sell short or buy on a bounce at 1.981” we have bought Pound today at 1.981 with target 1 at 1.987.
1.998
Long target 2
1.991
Long target 1 and buy break level
1.987
Close on a false brake at 1.987
1.981
Long at 1.981
1.975
Sell short or buy on a bounce at 1.981
1.97
Short target 1




Intraday sentiment: bullish


2) Weekly perspective.

Pound is trading just below its resistance level at 1.982. Strong movement upward will confirm bullish sentiments.
1.999
Buy break
1.994
Long target 2, close now long
1.991
Long target 1
1.983
Long at 1.981
1.976
Long trade’s support level, consider closing
1.97
Trading range support level




Weekly sentiment: bullish

[tgamin]

GBP/USD 1st August 2008

1) Short-term Intraday analysis.
We booked 100 pips profit on yesterday’s movement up to 1.9929. As we did not see any confirmed break above 1.991 we did not go long above 1.991 levels.
Pound looks quite uncertain now and we are out of the market for some time. GBP is traded within 1.975-1.985 range with a very strong support at 1.971and resistance at 1.986
1.998

1.991

1.987

1.981
Flat at 1.991, TP 1 reached
1.975

1.97





Intraday sentiment: neutral


2) Weekly perspective.

Pound is heading down to 1.976 levels. Trading range is within 1.969-1.983.
Again we have booked 100 pips movement here
1.994
Long target 1
1.985
Buy break
1.983
Flat at 1.991
1.973
Buy on a bounce
1.968
Sell short on a break
1.963
Short target 1


Weekly sentiment: bearish

[tgamin]

GBP/USD 4 August 2008

1) Short-term Intraday analysis.
Pound is trading near its support level at 1.97 for today. We shall stay out of market for a while. Trading range with support/resistance levels is 1.969-1.986 with 1.979 as a middle of the range being both support and resistance level.

Intraday sentiment: neutral


2) Weekly perspective.
We see 1.972-1.979 trading range for today. We will consider buying in case today’s close is above 1.98 level.

Intraday sentiment: neutral

[tgamin]

GBP/USD 5 August 2008

1) Short-term Intraday analysis.
GBP is trading below its support level at 1.9645. Bounce back to 1.97 is very likely today. 1.97 is a first resistance level.

Intraday sentiment: neutral


2) Weekly perspective.
Cable has slipped down to 1.96 levels and has broken its support level at 1.965. We will wait for while to see if there is going to be any bounce back or further confirmation of downward movements.

Intraday sentiment: neutral

[tgamin]

GBP/USD 6 August 2008

1) Short-term Intraday analysis.
We see 1.952 as a intraday support level. Downtrend started in the mid of July could be still on track so we will wait for confirmed trend changing.
First resistance level is at 1.96 and stable break there could be a signal for a new long trade with target at 1.975.
Buy long if hourly closing is above 1.963.

Intraday sentiment: neutral


2) Weekly perspective.
1.954 is a strong support level for a weekly movements. We are definitely out of the market as trading picture is very unclear.

Intraday sentiment: neutral

[tgamin]

We are waiting for today’s BOE meeting for any trade activities.

[tgamin]

We are out of the market for today.

[tgamin]

GBP/USD 11 August 2008

1) Short-term Intraday analysis.
Sharp slip on Friday continued downtrend movement from 2.01 to 1.9 levels. Bounce from 1.9125 to 1.9227 today has 1.921 as a support level today with 1.915 as a second support level.
Intraday sentiment: neutral


2) Weekly perspective.
To see a new upward movement, GBP/USD must close above 1.922 level today. Support level is at 1.916

Intraday sentiment: neutral

[tgamin]

We see continuing downtrend movement for Cable and we are out of the market for the time being as we see neither strong indications of any further movements down nor positive trends.

Both daily and intraday sentiment: out of the market