Sunday, July 11, 2010

GBPUSD Weekly and Intraday Market Thought 11072010

GBPUSD tested last two weeks major resistance weekly chart between [1.5227,1.5570] chart 1.
Short-term view ( chart 60 minutes) breakout range last friday expect target around 1.4950. Target is valid below 1.5133.
If hold lows of last friday 1.5050 and close hourly above 1.5150 expect again 1.5220.
Resistance: range [1.5075,1.5087] and range [1.5120,1.5133]
Suport: 1.4950, 1.5015 and 1.5050.
More updates forex here and here more updates index.
Click to zoom in. Good luck folks.
Chart 2 -  60 minutes Chart
Chart 1 - Weekly Chart


1 comment:

  1. The Euro bounced down off my unorthodox Fib 61, see charts on Hawaii Trading

    My prediction of "Dine in Hell" from Wednesday night, came true. note the "Devil Pattern" which is essentially the same as Trader Steve pointed out twice, this same week.

    ES appears to have mostly decoupled from the Euro, and the bond and US FX markets are just acting kind of weird. Flight to safety or flight to inflationary monetary practices?

    When the old school practices of safe haven are tried, and a Gila Monster is lurking therein --- perhaps then the real panic starts.

    ES did a nice backtest on the 100% channel of the PRS 133. Unfortunately unless you were trading late Thursday, uh, I was doing drywall....ouch. But was 50% in on a short futures, so that was nice.

    This is expiry, so Monday and Tuesday next week can definitely see some big moves. I will remain 50% short.


Enjoy this post? Then leave a comment and say thanks!