The GBPUSD has been consolidating for almost 2 weeks below the key resistance 1.5630, note that as long as 1.5803/1.5630 levels hold on a daily closing basis , the risk to return to 1.4830 level will remain valid and strong ,a daily close below 1.5457 will pave the way towards 1.5284 levels, but in return, stability above 1.5803 on a daily closing basis is likely to have large bullish implication, If seen, sooner or later the pair would target 1.6300 levels...

Support levels : 1.5457,…

As shown on the 4 hour chart posted below, the GBPUSD has formed a breakout pattern, support at 1.5476, resistance at 1.5600, a four hour close above 1.5600 will advance the pair further higher towards 1.5725 and 1.5850 levels, while a four hour close below 1.5476 will open the way to 1.4350 and 1.4225 levels.

Recommendation 1 # : Buying the pair with a 4 hour closing above 1.5600 targeting 1.5725 and 1.5850 levels , stop loss below 1.5476 levels.

Recommendation 2…

The GBPUSD continued to maintain its bullish momentum the past few weeks, now pressure will be on the key resistance 1.5507 - high of the week 17 Feb 2013 , this level is a pivotal in the medium/long term outlook, to resume its upside offensive , a break and hold above 1.5507 on a weekly closing basis is needed,If seen, we would have 2 scenarios :

Scenario A : the pair will hold above 1.5507 before attacking 1.5775 ahead of 1.6000 levels, break of 1.6000 will target 1.6400…

The GBPUSD continued its bullish momentum the past few weeks, after breaking of the 1.5155 levels, now pressure will be on the 1.5508/1.5544 levels, the GBPUSD will have to hold above the 1.5544 levels on a daily closing basis, to push the market for further upside gains, If seen, this scenario will have large bullish implication , and sooner or later the pair will target  the 1.5853/1.5995 levels, where rejection  is suggested but a breach will turn focus on the 1.6380…

Recommendations: LONG positions around 1.5255 with 1.5440 & 1.5525 as next targets.

Alternative scenario: The downside breakout of 1.5180 will call for a rebound to 1.5110/1.5033.

Description: The GBPUSD maintained a strong bullish momentum last week, after the break above 1.5255 levels, topped at 1.5363 levels .support is at 1.5255 levels ahead of 15180, so, as long as 15180 holds on a 4 hour…

The GBPUSD  continued to maintain its bullish momentum the past few days, pressure now will be on the key resistance 1.5245, the GBPUSD will have to hold above the 1.5245 levels on a daily closing basis to push the market for further upside gains, If seen , it will aim 1.5320 where a breach will turn focus on the 1.5500 levels.

On the downside, a failure to hold above the 1.5245 levels, could mean a return to the 1.5033 levels, to reverse risks to the downside , the…

Recommendations: SHORT positions below 1.5175 with 1.5090 & 1.5025 as next targets.

Alternative scenario: The upside breakout of 1.5175 will call for a rebound to 1.5235/320.

Description: The pair trades below its resistance at 1.5175, below this level look for further downside losses towards 1.5090 & 1.5025 levels, a break above 1.5175 - an hourly close is better - will reverse risks to the…

The GBPUSD maintained some bullish momentum the past few weeks, pressure now will be on the key resistance 1.5500, the GBPUSD will have to hold above 1.5500 on a weekly closing basis to confirm bottoming at 1.4830 and change medium term outlook from bearish to neutral, If seen pressure will be on the key resistance 1.5840 , where a breach will turn focus on the 1.6000 levels.

Alternatively, a failure to hold above 1.5500 on a weekly closing basis, could mean a return to the 1.4830…

Recommendations: LONG positions above 1.5055 with 1.5110 & 1.5180 as next targets.

Alternative scenario: The downside breakout of 1.5055 will open the way to 1.5010/1.4935.

Description: As long as the key support 1.5055 holds, look for further upside gains towards 1.5200 levels,a break below this level will reverse risks to the downside and open the way to 1.5010/1.4935…

The GBPUSD maintained a bullish momentum last week, topped at 1.5175 and closed at 1.5110 levels, with the key support 1.5045 intact, the risk for more upside gains will remain strong,now pressure will be on the key resistance 1.5155, GBPUSD will have to hold above 1.5155 on a daily closing basis to push the market for further upside gains, If seen, this scenario will pave the way to 1.5500 levels, at this this point comes the real challenge, around 1.5220 and 1.5320 levels, the pair might…

As shown on the 4 hour chart posted below, the GBPUSD has formed a breakout pattern, support at 1.5460, resistance at 1.5550, four hour close above 1.5550 will call for a rebound towards 1.5640 and 1.5730 levels, while a four hour close below 1.5460 will extend the bearish move  towards 1.5370 and 1.5280  levels...

Recommendation 1 # : Buying the pair with a 4 hour closing above 1.5550 targeting 1.5640 and 1.5730 levels, stop loss below 1.5460…

As shown on the daily chart posted below, the GBPUSD has formed a breakout pattern on the daily chart, support at 1.5630, resistance at 1.5830, sideways move is suggested between 1.5630/1.5803 before the next breakout, a daily close above 1.5803 will bring strong bullish momentum and target 1.5975 levels, the next target will be around 1.6140 levels, but in return, a daily close below 1.5630 will extend the bearish move towards 1.5460 and 1.5300 levels.

However, according to the daily…

Pivot: 1.5677

Recommendation: SHORT positions below 1.5677 with 1.5630 & 1.5570 as next targets.

Alternative scenario: The upside breakout of 1.5677 will call for a rebound to 1.5725/770.

Comment: The pair put a temporary top at 1.5677, as long as this level holds more loses are suggested ,but also momentum indicators are mixed, so break of 1.5677 will bring strong bullish momentum towards 1.5725/1.5770…

Pivot: 1.5725

Recommendation: SHORT positions below 1.5725 with 1.5675 & 1.5640 as next targets.

Alternative scenario: The upside breakout of 1.5725 will call for a rebound to 1.5825.

Comment:As long as 1.5725 holds the pair remains under pressure with further risk to the downside , an hourly close above 1.5725 will reverse risks to the upside and target 1.5770/1.5825 levels. …

Pivot: 1.6178

Recommendation: SHORT positions around 1.5900 with 1.5500 & 1.5300 as next targets.

Alternative scenario: The upside breakout of 1.6178 will call for a rebound to 1.6380/720.

Description :Bearish momentum breakout has been completed on the weekly chart at 1.5843, more losses are suggested as long as the pair trades below 1.6178 on a weekly closing basis, only a weekly close  above this…

Hello everyone!

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…

Pivot: 1.6252

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…

Pivot: 1.6280

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…

Pivot: 1.6142

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…

Pivot: 1.6116

Recommendation: LONG positions above 1.6116 with 1.6170 & 1.6200 as next targets.

Alternative scenario: The downside breakout of 1.6116 will open the way to 1.6070/1.6035.

Comment:.The pair is strongly bullish as long as trades above 1.6116 levels, losing this level would weaken the current bullish run and open the way to 1.6070/35 levels..…