GBP/USD Technical Analysis

The GBP/USD pair fell again on Friday, but managed a reversal in the middle of the session after the Federal Reserve Chairman said in his speech that the US didn’t need more QE, and this started a surge of buying for risk-related assets such as the Pound. The pair formed a hammer on the daily chart, and as a result looks like a bounce is coming. The breaking of the highs on Friday is a buying signal – but it should be noted that the 1.65 level up ahead has been very resistive. A breaking of the Friday low is a very bearish sign and is able to be shorted.
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Source:
http://www.forexcycle.com/daily-fore...t-29-2011.html

GBP/USD Technical Analysis - August 30, 2011 - 06:30 GMT

The pressure remains on the upside since the pair bounced on an ascending channel near the 1,62 level.
A confirmation of the bounce exposes 1,67 corresponding to the weekly upper bollinger band.
Only a break below 1,62 would alleviate the immediate downside pressure.

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http://www.forexfactory.com/attachme...1&d=1314704670

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http://www.atf-forex-trading.com/majors-analysis.html

GBP/USD August 31, 2011 - 06:30 GMT

Considering the last day closing, we expect a test of the ascending trendline at 1,6250. A break below the daily channel would negate the bullish outlook.
We now need to see a break back above 1,6460 to allow a continuation to the upside with a following target at 1,67 (weekly upper bollinger band).
Inversely, a break below 1,62 over the coming days would expose further decline on the pair.


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http://www.forexfactory.com/attachme...1&d=1314800266


source:
http://www.atf-forex-trading.com/majors-analysis.html

GBP/USD September 1, 2011 - 14:05 GMT
Following the Euro decline, the Cable is also under pressure and we might see additional losses going forward.
The pair is carving out a bearish structure (cup&handle) on the daily chart with the key 1,62 handle currently tested. A clear break below this support would expose the weekly bollinger band and key support at 1,60.
A break back above 1,6460 (weekly high) is now required to alleviate the downside pressure and allow a bullish development.

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source :
http://www.atf-forex-trading.com/majors-analysis.html

GBP/USD September 2, 2011 - 11:05 GMT

With a break below its daily rising trendline yesterday, the Cable has confirmed a bearish bias thus we expect a continuation towards next key support at 1,60 (weekly bollinger band).
The pair is pulling back a little today towards the former trendline support ahead of the NFP release. A break below 1,6130 (today's low) would accelerate decline.
A break back above 1,6460 (weekly high) is now required to alleviate the downside pressure and allow a bullish development.


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source :
http://www.atf-forex-trading.com/majors-analysis.html

GBP/USD September 6, 2011 - 05:40 GMT

The pair has broken down below 1,61 (August low) which confirms the downside pressure.
Next target is given by July low at 1,5780 corresponding to the monthly 20 moving average.
Only a break back above 1,6460 (last swing high) would alleviate the downside pressure and allow a bullish development.


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source:

http://www.atf-forex-trading.com/majors-analysis.html

The pair is also under an intense downside pressure after a break below another key level at 1,60.
The market is currently testing the 1,59 support and a break below this level exposes July low at 1,5780.
The bias is now clearly on the downside and we will only consider selling opportunities for the time being.


source :
http://www.atf-forex-trading.com/majors-analysis.html

September 25, 2011 - 18:30 GMT
http://www.forexfactory.com/attachme...1&d=1317044190


The break below 1,57 has accelerated the downside move towards the 1,5350 support from the end of december 2010 which is now being tested.
The outlook is extremely bearish and we will now look for a break below 1,5350 for an acceleration towards 1,50 before a possible test of 1,47 (monthly bollinger band).