DAILY FORECAST FOR GBPUSD Bias: Slightly mixed – waiting for breaks but the underlying move remains bearish While yesterday’s high was higher than I thought it would be it doesn’t alter the bearish view. However, we should be aware of the risk that we could see a small sideways consolidation. If we see the first [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: I suspect a pullback higher but if this is to generate new highs then it needs to be strong Well, the minor resistance I quoted at 1.6663 turned out to be major resistance. The drop has been strong and indeed generated a bearish Key Day Reversal. This commonly causes a [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: Mixed – waiting for breaks though upward momentum shows no sign of slowing Just as I thought it safe to call a correction the upside resumed and even rallied through the 1.5663 resistance and then proceeded to reach just a few pips above the 1.5789 upper resistance. While these are [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: Mixed – waiting for breaks though upward momentum shows no sign of slowing Just as I thought it safe to call a correction the upside resumed and even rallied through the 1.5663 resistance and then proceeded to reach just a few pips above the 1.5789 upper resistance. While these are [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: I feel there is risk for losses to reach around 1.5014 but from that area expect the uptrend to resume Losses have been deeper than expected and I feel that while 1.5140 caps we shall see these extend just a little further with my favored target at 1.5014. However, do [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: Unless we see a break above 1.4833-40 I feel a correction to 1.4672 is more likely Now that we’ve seen a break higher I feel that any decline will be corrective. I do see resistance at 1.4833-40 and while this holds there is risk of losses back below 1.4736 and [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: I look for losses to 1.4660 before a correction but while this remains below 1.4850-60 expect losses Once the 1.4824 corrective low caved in the downside seems to suggest a move through to 1.4530-80. This morning has seen Friday’s losses follow-through to 1.4706 but I still feel these should extend [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: I suspect a direct pullback is due from the 1.4777 peak The 1.4777 high has held and with the bearish divergence I feel we shall see a reasonable correction. First support is at 1.4630 and this should hold on first test. However, while the 1.4700-20 area caps look for a [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: We should see gains to 1.4772 minimum and probably 1.4842-63 Yesterday was a bit of a messy day but overall bullish and this is seeing further gains this morning. Already we are close to the 1.4772 target and while we should take care around here I feel that the greater [...] [...more]
DAILY FORECAST FOR GBPUSD Bias: While 1.3909-16 caps I look for losses below 1.3776 & possibly a strong down day to below 1.3501 I am cautiously feeling that this morning’s high at 1.3909 may have completed this complex correction. We should note resistance at 1.3916 also. While this caps and we see a break below [...] [...more]
