GBPUSD - Weekly Outlook - (18/22 Mar 2013)
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 surpass those levels with one long bullish candle.
On the downside, GBPUSD will have to hold and consolidate below 1.5045 on a daily closing basis to invalid the last bullish run,If seen the pair might expose 1.4830 levels, below 1.4830 will have large bearish implication in the medium term and should send the pair to 1.4500/200 levels, in short term it will target 1.4700 ahead of 1.4600 levels.
Best Regards
Haitham
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Comment by Alexander B. on March 18, 2013 at 8:16am -
Hi Haitham I would like to ask what you think about current eur usd movement?
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Comment by pandora on March 18, 2013 at 8:39am -
Alexander just bay bay bay
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Comment by Alexander B. on March 18, 2013 at 8:49am
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its called buy
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Comment by pandora on March 18, 2013 at 8:57am
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you bay bay or still thinking ? Alexander
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Comment by Alexander B. on March 18, 2013 at 9:01am
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I bought went short and gained some bugs...but not sure what is the main resistant for today ,I see the 1.2980 as the maint resistant?
What do you think
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Comment by pandora on March 18, 2013 at 9:03am
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the sky
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Comment by Alexander B. on March 18, 2013 at 9:05am
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very smart!
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Comment by pandora on March 18, 2013 at 9:17am
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think think ..
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Comment by pandora on March 18, 2013 at 10:20am
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To give a little explanation to my trades
Trade 1 ok, expected a little PB down before the breakout ..
Trade 2 Nice PB entry in a strong trend
Trade 3 stupid right into R level .
But I assumed it was going to break R-level , I was already into a good position from my two previous trades (often manages price to break through the first level while struggling to take next.)
Trade 4 was sure one breakout , was already secured from my previous positions
I would not take trade 3-4 trade without trade trade 1-2With out position 1-2 that position is better to wait the breakout..
Exit... I expect the price goes above to rang at next R -level level ..so where the prize goes after rang i dont know I have a good position that can defend entry In case it goes the other way ..
SO Alexande what are you thinking if you thinking at all !!
or you teach people English ..
Thank god that the market do not care about my language skills
..
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Comment by Haitham653 on March 18, 2013 at 12:14pm -
GBPUSD: according to 4 hour chart, support at 1.5075, resistance at 1.5175, break of 1.5175 on a 4 hour closing basis would expose 1.5220 and extend recovery to 1.5320 levels,a break below 1.5075 would bring deeper fall towards 1.4980 ahead of 1.4915 levels.
Comment
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