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Posts Tagged ‘Pound’

• EURUSD: Still Holding Short Position
• USDJPY: Looking to Confirm Reversal
• GBPUSD: Pullback to Offer Long Entry
• USDCAD: Wedge Break Points to Rally
• AUDUSD: Sellers Aim at Key Trend Line
• NZDUSD: Defined Range Still Holding

View full post on DailyFX – Technical Analysis – Candlesticks

• EURUSD: Candle Setup Hints Upswing Ahead
• USDJPY: Looking to Enter Long on Pullback
• GBPUSD: Bounce Seen as Selling Opportunity
• USDCAD: Muted Range Trading Continues
• AUDUSD: Looking for Channel Break to Sell
• NZDUSD: Doji Candle Marks Potential Top

View full post on DailyFX – Technical Analysis – Candlesticks

The GBPUSD looks vulnerable but it is difficult to short without a point of reference to place a stop. It is best to wait for a top to form and then short a bounce.

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Short term channel lines in the EURUSD, GBPUSD, and AUDUSD suggest that the next USD low is just around the corner.

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British Pound Rallies BoE Minutes, Euro Steady Ahead of FOMC Rate Decision
A split in the Bank of England pushed the British Pound to a high of 1.4926 during the European trade as MPC board member Andrew Sentance voted against the majority and pushed for a rate hike earlier this month, and the rise in interest rate expectations may drive the sterling higher going into the North American session as investors weigh the prospects for future policy.

Read more on Daily FX via Yahoo! Finance

The GBPUSD corrective channel, reinforced by the 100% extension of the 14226-14774 advance, continues to hold. With the channel intact, Cable is vulnerable.

View full post on DailyFX Technical Analysis – Candlesticks