GBP/USD Analysis

[tgamin]

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For the time being we will publish GBP/USD analytics only for Intraday and Weekly perspectives with main support and resistant levels along with movements' targets.

[tgamin]

GBP/USD.
1) Intraday 17/07/08-18/07/08
Short term intraday pound trading perspective support level 1.9985-2.0025 with breakeven target 1 at 2.0050-2.008 with 17 July intraday target 2 level at 2.0135-2.0165.

Should it go below 1.9975 we consider selling GBP/USD with 1.985 support level on 18th July 08 and target level of at 1.99.
Intraday sentiment: bearish

2) Weekly perspective.
GBP is trading near support level at 1.999 for the end of the week. Resistance is at 2.015.
If sterling fails to retain 1.998 by the end of the day, we consider it bearish.

Weekly sentiment: neutral

[tgamin]

GBP/USD 18/7/8

1) Short-term Intraday analysis.
Sterling is still in bearish trend for this Friday with a very strong support at 1.995 levels.
Then main resistance level is between 1.998-2.001.
We consider selling GBP/USD should it go below 1.993 with target at 1.987.
Intraday sentiment: bearish

2) Weekly perspective.
GBP is still within its trading borders. Resistance is still at 2.001-2.0015. Once again, 1.995 support level is quite a strong so we are looking for a confirmed closing below 1.994.
Weekly sentiment: neutral
Please comment.

[tgamin]

GBP/USD 21/7/8

1) Short-term Intraday analysis.
As we could see on Friday, 1.993 break failed to develop further slippage down to 1.985 and today support level at 1.993 worked just fine. GBP is heading toward 1.997 intraday resistance level that is slightly lower a very strong resistance level at 1.9995.
Today’s trading range is between 1.993 and 1.999. Should it go out of the border, be aware of failed breaks.
Intraday sentiment: neutral
2) Weekly perspective.
1.994 was hit but returned back very fast so we consider that brake as unconfirmed. Pound is at just above its support level so today’s closing below 1.992 would give an additional support to downward movement.
Weekly sentiment: neutral

[tgamin]

GBP/USD 22/7/8

1) Short-term Intraday analysis.
GBP/USD has broken 1.9995 yesterday. To consider this brake as a beginning of a new movement we are looking for daily’s closing above 2.0050 level is 2.0175 target movement in this case. We see 2.0015 as a first support level and yesterday’s resistance level of 1.9990 is going to be support level for today.
So we are carefully looking for a bullish movement up to 2.02 levels.
Intraday sentiment: bullish
2) Weekly perspective.
As Sterling did not close 1.992 yesterday and still rising we consider 1.999 as a first support level. Today’s closing above 2.0040 could mean the beginning of a new upward movement with potential of 2.02-2.024 progress.
Intraday sentiment: bullish

[tgamin]

GBP/USD 23/7/8

1) Short-term Intraday analysis.
False brake yesterday did not confirm upward trend. We see strong support-resistance level here at 1.9930-1.9950. Today’s trading range is within 1.99-1.998. Any confirmed price movements out of this border may be considered as a new trend movements.
Intraday sentiment: neutral
2) Weekly perspective.
GBP was not able to retain prices above 2.004 and slipped down to its support level at 1.9920. We are waiting for a confirmed closing below 1.99 for today to consider downward movement. First support level is between 1.997-1.999
Intraday sentiment: neutral

[tgamin]

GBP/USD 24/7/8

1) Short-term Intraday analysis.
Closing of yesterday’s trading within 1.99-1.998 borders does not give any strong movement predictions now. Cable is within 1.997-2.000 support-resistance level. 1.9940-2.0040 levels range seem to be the right daily’s range.
Intraday sentiment: neutral
2) Weekly perspective.
Sterling is still within 1.997-1.999 level and it shows no any directional movements at all. Support level is still within 1.9935-1.9950 levels while 2.005 level seems to be very difficult to be broken.
Intraday sentiment: neutral

[tgamin]

GBP/USD 25/7/8

1) Short-term Intraday analysis.
Yesterday’s support level at 1.982 is very strong throughout July 2008. We are waiting for confirmed closing below 1.98 for downward movement. First resistance level is at 1.989-1.99 with 1.995 target in case of break.
Intraday sentiment: neutral
2) Weekly perspective.
From the weekly medium term perspective, GBP/USD is looking neutral while a short upward movement after yesterdays bounce from 1.982 is very forthcoming. First resistance level is at 1.99.
Intraday sentiment: neutral

[tgamin]

GBP/USD 28/7/8

1) Short-term Intraday analysis.
We still have 1.982 as a strong support level whether 1.992 is a resistance level and we are looking for a confirmed closing above this level for upward movements.
It is very likely we see a sharp slip down to 1.982 levels.
Intraday sentiment: neutral
2) Weekly perspective.
We have discovered that pound is within an upward movement started in the beginning of June 2008. Pound is just above this trend line with 1.985-1.989 for this week support level. Should it close much less below 1.986 by the mid of the week and above-mentioned long term movement would be finished.
Intraday sentiment: neutral

[tgamin]

GBP/USD 29/7/8

1) Short-term Intraday analysis.
Downtrend started in the middle of July is still on track but GBP is just on the resistance level. We are looking for a sharp upward movement or a strong bounce from the current levels (1.9935-1.996). Trading borders of the above-mentioned movements are within 1.975-1.996. We are neutral until it goes below 1.984 or above 2.000
Intraday sentiment: neutral
2) Weekly perspective.
Cable is still within upward movement but is already 50 pips below median and heading towards 1.987 support level. Sell short below 1.986 and buy long above 2.001.
Intraday sentiment: neutral