acetraderfx
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DAILY TECHNICAL OUTLOOK ON GBP/USD
Last Update At 17 Apr 2013 01:30GMT
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Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5338
55 HR EMA
1.5330
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation with mild upside bias
Resistance
1.5459 - 50% proj. of 1.5034-1.5412 fm 1.5270
1.5412 - Last Thur's 6-week high
1.5386 - Mon's high
Support
1.5329 - Hourly chart
1.5270 - Y'day's low
1.5239 - Last Mon's low
. GBP/USD - 1.5355... The British pound traded in a choppy fashion y'day n despite initial weakness, price managed to hold abv Mon's NY low at 1.5270 in Asia n Europe n intra-day rally in eur/usd later helped cable move higher abv 1.5329 res (now sup) to 1.5379 in NY afternoon b4 easing in Asia today.
. Y'day's aforesaid rally to 1.5379 suggests fall fm last Thur's 6-week high at 1.5412 to retrace recent upmove fm Mar's 2-1/2 year trough at 1.4832 has ended at 1.5270 n as long as 1.5329 holds, consolidation with upside bias remains, abv 1.5386 wud confirm this view n yield re-test of 1.5412, break wud bring stronger correction of MT downtrend fm 1.6747 (2011 peak) to 1.5458/59, being 61.8% r of 1.5845-1.4832 n 50% proj. of 1.5034-1.5412 fm 1.5270 respectively, however, as hourly oscillators' readings wud be in o/bot territory on such a move, reckon 1.5505 (Feb 19 high) shud remain intact n bring retreat later.
. In view of abv bullish view, we've exited our previous short position n wud stand aside. On the downside, below 1.5329 wud revive bearishness n yield weakness to 1.5270 but break needed to extend subsequent fall twd 1.5239.
Last Update At 17 Apr 2013 01:30GMT
[/B]
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5338
55 HR EMA
1.5330
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation with mild upside bias
Resistance
1.5459 - 50% proj. of 1.5034-1.5412 fm 1.5270
1.5412 - Last Thur's 6-week high
1.5386 - Mon's high
Support
1.5329 - Hourly chart
1.5270 - Y'day's low
1.5239 - Last Mon's low
. GBP/USD - 1.5355... The British pound traded in a choppy fashion y'day n despite initial weakness, price managed to hold abv Mon's NY low at 1.5270 in Asia n Europe n intra-day rally in eur/usd later helped cable move higher abv 1.5329 res (now sup) to 1.5379 in NY afternoon b4 easing in Asia today.
. Y'day's aforesaid rally to 1.5379 suggests fall fm last Thur's 6-week high at 1.5412 to retrace recent upmove fm Mar's 2-1/2 year trough at 1.4832 has ended at 1.5270 n as long as 1.5329 holds, consolidation with upside bias remains, abv 1.5386 wud confirm this view n yield re-test of 1.5412, break wud bring stronger correction of MT downtrend fm 1.6747 (2011 peak) to 1.5458/59, being 61.8% r of 1.5845-1.4832 n 50% proj. of 1.5034-1.5412 fm 1.5270 respectively, however, as hourly oscillators' readings wud be in o/bot territory on such a move, reckon 1.5505 (Feb 19 high) shud remain intact n bring retreat later.
. In view of abv bullish view, we've exited our previous short position n wud stand aside. On the downside, below 1.5329 wud revive bearishness n yield weakness to 1.5270 but break needed to extend subsequent fall twd 1.5239.