Here you see my GBP/USD daily chart!
Clearly we have the 61.8% GOLDEN FIB level being touched upon! after the sharp decline we have seen.
I think 1.5680 is a good buy point targeting 1.5800!
will watch for a bounce from this fib level :) before medium term direction can be…Continue
Added by Shaun Powell on January 28, 2013 at 12:49pm — No Comments
If you read my last blog about the GBPUSD , GBPUSD - MT Strategy (16 Jan 2013) , I said downside is supposed to be contained above 1.5730, the 200% extension of the bearish breakout on daily (1.6058/1.6381), last week, the pair almost reached that level , just 10 pips away, If we check the daily , according to %(R) indicator, downside is supposed to be contained above…Continue
UBS - "EURUSD BULLISH Resistance is at 1.3404, a break above this would signal the end of the choppy activity, opening the way to 1.3493. Support lies at 1.3249 ahead of 1.3201.
USDJPY BULLISH Resistance is at 90.25, a break above would open 94.13. The important support at 87.79 should hold in the near-term.
GBPUSD BEARISH There is potential for the pair to extend weakness to 1.5755 and then critical support at 1.5694. Resistance is at 1.5946."
Added by Francesc Riverola on January 24, 2013 at 12:14pm — No Comments
Rabobank - "We would argue that diversification is still a theme for the FX market this year. However, we would also argue that the drivers of diversification have altered. In recent months investors have primarily been seeking out yield, the need to diversify from the EUR has diminished along with the perceived risk of an EMU breakup. GBP gained ground vs. the EUR in the first half of last year on the back of the market’s concerns over the future on EMU. CFTC data show that not only have…Continue
Added by Francesc Riverola on January 22, 2013 at 1:36pm — No Comments
Added by Francesc Riverola on January 21, 2013 at 3:30pm — No Comments
Rabobank - "Although the traditional safe-haven currencies of Japan and Switzerland have lost the most ground against EUR so far this year at -4.7% and -3.3% respectively, GBP has come in a close third losing just over 3% versus EUR. GBP was unhelped by much weaker than expected retail sales data for December which showed a contraction in sales during December to yet again highlight the state of the UK high street which has been firmly in focus following a number of high profile company…Continue
Added by Francesc Riverola on January 18, 2013 at 10:43am — No Comments
Added by Shaun Powell on January 17, 2013 at 9:55pm — No Comments
UBS - "USDJPY BULLISH The current setback is to unwind the overextended upside conditions. Support at 87.45 should hold. Resistance is at 90.00 ahead of 94.14.
GBPUSD NEUTRAL The pair is approaching a strong support at 1.5956; a closing break below would be negative, exposing 1.5883. Resistance is at 1.6081 ahead of 1.6179."
Added by Francesc Riverola on January 17, 2013 at 9:53am — No Comments
Recommendation: SHORT positions below 1.6180 with 1.5882 & 1.5753 as next targets.
Alternative scenario: The upside breakout of 1.6252 will call for a rebound to 1.6380/425.
Comment:Bearish momentum breakout has been completed on the daily chart at 1.6058, more losses are suggested as long as the pair trades below 1.6252, only a daily close above this level will reverse risks to the upside…
Royal Bank of Scotland - "EUR/GBP looks to be entering anew short term range after itmanaged to break through the pivotal 0.8223 level. Expect the next big resistance level at 0.8504 which is the ’12 high.
So my ‘ceiling’ at 0.8223 turned out to be breeze for EURGBP’s price action, as the market broke through it and even managed a weekly close above it! This changes my view significantly as above this pivotal level technically opens a new range supported between…
Added by Francesc Riverola on January 14, 2013 at 3:26pm — No Comments
Deutsche Bank - "The pound's greatest flow strength could turn out to be its greatest weakness though. In contrast to Switzerland's steady inflow, the UK saw a 350bn GBP collapse in short-term flows in the first few years of the crisis, only to subsequently rebound as Eurozone tail risks picked up (chart 2). This could reflect outright inflows or liquidation of UK assets and hoarding in cash. We think this pattern puts sterling at major risk this year. First, we doubt this pace of…Continue
Added by Francesc Riverola on January 11, 2013 at 4:33pm — No Comments
ANZ - "Overlapping rebounds “failed” in front of the 1.6450 triangle resistance. Although this underscores the tightening range that has been developing since 2009, the “triangle” is now so close to its apex that a break of support (or resistance!) is unlikely to gain force. A break should merely define a new horizontal range. Consequently, a break of near term rising support at 1.5935 is unlikely to trigger any acceleration through triangle support (currently 1.5675-00). However, bias is to…Continue
Added by Francesc Riverola on January 10, 2013 at 12:36pm — No Comments
Recommendation: SHORT positions around 1.6255 with 1.6170 & 1.6130 as next targets.
Alternative scenario: The upside breakout of 1.6280 will open the way to 1.6320/1.6380.
Comment:The pair is under pressure as long as it trades below 1.6280 levels, a 30 min close above this level would delay the bearish move and open the way to 1.6320/80 levels before going down once again. On the…
FXA - "Cable near term outlook: The market has finally reached the long discussed 1.6300/15 resistance area (Apr/Sept highs), and with an eventual upside break still favored. Though this 1.6300/15 resistance area may hold for a few days, the upside pattern from the Dec 7th low at 1.6005 is not "complete" (currently within wave 3), the seasonal chart points higher into the end of Dec, and the daily macd remains in buy mode, with all adding to the view of eventual gains above…Continue
Added by Francesc Riverola on December 20, 2012 at 9:03am — No Comments
View Live Chart for the EUR/USD
Closing above the 1.3180 resistance figure, EURUSD prospects are looking bullish. The upside penetration opens scope for a medium term advance on the 1.3505 fib resistance level. Any retracement will likely be held…
UBS - "GBPUSD BULLISH The pair continues to extend its strength and is currently testing resistance at 1.6217. The next critical resistance is at 1.6309. Support lies at 1.6153.
USDCHF BEARISH Bearish trend conditions persist. A break below first support at 0.9115 would signal extension of weakness to 0.9041. Resistance is at 0.9240."
Added by Francesc Riverola on December 18, 2012 at 11:05am — No Comments
Recommendation: LONG positions above 1.6190 with 1.6270 & 1.6410 as next targets.
Alternative scenario: The downside breakout of 1.6142 will open the way to 1.6050/1.5925.
Comment: After breaking above 1.6142, the way is clear towards 1.6270 levels, this level may cap the current bullish run and dip the pair to 1.6190/1.6140 levels before rising to 1.6400 levels, anyway, keep in mind any down…
Royal Bank of Scotland - "We see downside risks to GBP/USD. To a large extent this is based on our negative view on future developments in the Euro area that are seen weighing more broadly on European currencies against the USD. Deteriorating long-term UK fundamentals is also seen adding further grist to the mill. At the same time we see a more constructive outlook for the USD given the relatively better cyclical position of the US economy. While in the past this may have led to a…Continue
Added by Francesc Riverola on December 17, 2012 at 6:32pm — No Comments