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#1 ⇑ Haut ⇑ 02-01-2013 10:06:00
- Bruno
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GBP/USD : Resumption of the uptrend
The support which should validate the trend reversal finally held good and it is a powerful rally that occurred after the agreement on the U.S. budget. The break of 1.6250 gave us the buy signal. The price just validate the breakout of the resistance gathering all the last highs at 1.63 and a return over the medium term bullish slant (black line). The price has also reached a new annual high, exceeding last month high and the one made on September at 1.6309.
We continue to advise only long positions as far as 1.6239 is support. The upward break of 1.64 will give a new buy signal and we would then expect a test of the psychological threshold at 1.65.
In case of return below 1.6239, we will be neutral between this level and the major support at 1.6180 which will give a sell signal.
GBP/USD 4h chart
We continue to advise only long positions as far as 1.6239 is support. The upward break of 1.64 will give a new buy signal and we would then expect a test of the psychological threshold at 1.65.
In case of return below 1.6239, we will be neutral between this level and the major support at 1.6180 which will give a sell signal.
GBP/USD 4h chart
GBP/USD 1h chart
Last analysis on GBP/USD : GBP/USD : Trend reversal in progress?
