Forex Trading Technical Analysis (2011/10/24) GBP/USD Hits Key 1.6000 Resistance
(Please click on the forex chart thumbnail to enlarge) 10/24/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Monday (10/24/2011) has extended its rise up to the key 1.6000 psychological resistance level before backing off slightly. This occurs within the context of a steep bullish correction that began after price hit its [...]
Forex Trading Technical Analysis (2011/10/03) GBP/USD Targets Downtrend Continuation
(Please click on the forex chart thumbnail to enlarge) 10/03/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Monday (10/03/2011) has resumed its strongly bearish bias within the context of a steep downtrend that has been in place for more than two months since the late August 1.6616 high. This downtrend established [...]
Forex Trading Technical Analysis (2011/09/22) GBP/USD Continues Dramatic Plummet
(Please click on the forex chart thumbnail to enlarge) 9/22/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Thursday (9/22/2011) has continued its dramatic plummet since Wednesday, extending the sharp bearish trend that has been in place since the mid-August 1.6616 high. The current drop has brought price down to hit and [...]
Forex Trading Technical Analysis (2011/09/19) GBP/USD Bearishness Targeting 1.55 Downside to Further Downtrend
(Please click on the forex chart thumbnail to enlarge) 9/19/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Monday (9/19/2011) has continued its dramatic overall bearishness of the last several weeks by making a significant breakdown below key 1.5750 area support. This breakdown caps off a full month of steeply bearish price [...]
Forex Trading Technical Analysis (2011/07/12) GBP/USD Leans Toward Further Overall Decline Despite Rebound
(Please click on the forex chart thumbnail to enlarge) 7/12/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Tuesday (7/12/2011) has dropped down to hit a key 38.2% Fibonacci retracement (of the May 2010 lows to the May 2011 highs) and also approached its 1.5750 downside support target, before making a significant [...]
Forex Trading Technical Analysis (2011/06/23) GBP/USD Breaks Down, Targets Further Downside
(Please click on the forex chart thumbnail to enlarge) 6/23/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Thursday (6/23/2011) has made a swift and strong breakdown below multiple support levels, indicating a potential trend change for the pair after confirming a breakdown of the longstanding bullish support trendline that was in [...]
Forex Trading Technical Analysis (2011/06/16) GBP/USD Tentatively Breaks Down Longstanding Bullish Trend
(Please click on the forex chart thumbnail to enlarge) 6/16/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Thursday (6/16/2011) has made a tentative breakdown below a key uptrend support line extending back to the May 2010 lows. This breakdown is a key bearish event that, if sustained, could mean a bearish [...]
Forex Trading Technical Analysis (2011/06/15) GBP/USD Drops to Long-Term Trendline Support
(Please click on the forex chart thumbnail to enlarge) 6/15/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (daily chart) as of Wednesday (6/15/2011) has dropped significantly down to hit a key long-term uptrend support line extending back to the May 2010 lows. This occurs after price action respected a short-term downtrend resistance line extending back [...]
Forex Trading Technical Analysis (2011/05/19) GBP/USD Continues Weakness, Targets Further Downside
(Please click on the forex chart thumbnail to enlarge) 5/19/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (a daily chart of which is shown) as of Thursday (5/19/2011) has continued its strongly bearish bias that has been in place since the beginning of May, when price turned down from its long-term high just under the 1.6750 region. After retreating from that high [...]
Forex Trading Technical Analysis (2011/05/13) GBP/USD Furthers Bearish Momentum with Trendline Break Downs
(Please click on the forex chart thumbnail to enlarge) 5/13/2011 Forex Trading Technical Analysis (FXpath.com) – GBP/USD (a daily chart of which is shown) as of Friday (5/13/2011) has continued its bearish stance after dropping from its long-term highs near 1.6750 in the beginning of May, and then dropping below a short-term uptrend support line extending back to the late [...]
