By admin on 09/07/2010
Price action on GBP/USD, a 4-hour chart of which is shown, has been entrenched in a clear parallel uptrend channel since the early June low.
Posted in Forex Master | Tagged channel, continuation, gbpusd, uptrend
By admin on 31/05/2010
Price action on GBP/USD, a daily chart of which is shown, has consolidated in a flag-like (inverted) pattern after a period of steep bearishness within the past several weeks. This occurs within the context of an overall downtrend for the pair. The upper bounds of the inverted flag consolidation reside around the key 1.4500 resistance [...]
Posted in Forex Master | Tagged bearishness, flag, gbpusd, pattern, strong, within
By admin on 22/05/2010
Price action on GBP/USD, a daily chart of which is shown, has continued its bearishness from last week, when price reached down to hit its expected 1.4500 downside target at the close of the week.
Posted in Forex Master | Tagged bearishness, expected, further, gbpusd
By admin on 13/05/2010
Price action on GBP/USD, a daily chart of which is shown, has been unable to make a daily close below key support in the 1.4800 price region for more than a year. This is despite several attempts to move below that level for the past several trading days. Currently, price is firmly entrenched within a [...]
Posted in Forex Master | Tagged downside, gbpusd, more, potentially, targeting
By admin on 12/05/2010
Price action on GBP/USD, a daily chart of which is shown, has once again descended to approach key support in the important 1.5000 price region. This occurs within the context of a strong overall downtrend. The entire current week has thus far been characterized by marked bearishness after having descended from the 1.5350 region resistance. [...]
Posted in Forex Master | Tagged 15000, and, bearish, descends, gbpusd, still, to
By admin on 17/04/2010
Price action on GBP/USD, a daily chart of which is shown, has stagnated in somewhat of a bullish consolidation since breaking out above the peak of a double-bottom formation early in the week. Although the double-bottom pattern was confirmed by the breakout above the peak, price has not yet followed-through to the upside in any [...]
Posted in Forex Master | Tagged gbpusd, inches, the, to, upside
By admin on 13/04/2010
Gbp rallied on general sentiment, and moving above strong resistance area, 1.5380 zone, where we have the neckline of the daily double bottom in the pair. Zone is our first support for next hours. I do believe that even a spike to 1.5330, next support area, won’t be harmful to this new borrn trend, if [...]
Posted in Forex Master | Tagged above, bottom, double, gbpusd, line, neck
By admin on 03/04/2010
Price action on GBP/USD (a daily chart of which is shown) as of Monday (3/29/2010) morning New York session has continued its rebound off key support just below the significant 1.4800 price region. This rebound hints at a possible double-bottom in the making. Any strong breakout and daily close significantly above 1.5000 would lend further [...]
Posted in Forex Master | Tagged doublebottom, forming, gbpusd, potentially
