Updated the:
11/08/2012
GBP/USD : Strong volatility

Sentiment :
sentiment sur la parité EUR/CHF
1.61
sentiment sur la parité EUR/CHF
1.6050
sentiment sur la parité EUR/CHF


--- Follow up analysis ---
The pair GBP/USD has continued its bearish movement at the beginning of the week, breaking the psychological level at 1.60 (new sell signal). Currently, the price seems to have some difficulties to pursuit its movement below this level and an accumulation zone is taking place. In h1, this shows up with a triangle (black lines). We are close to the end of the pattern. On the medium term, the pair is testing again the upper band of its former bearish channel (purple lines) who has allowed a rebound of the price at the end of October.

We continue to advise short positions as far as 1.6050 is resistance. The breakout of 1.5963 will give a new sell signal and will allow the breakout of the upper band of the channel. We will be then able to target a test of the support at 1.59.

In case of return above 1.6050, we will be neutral between this level and 1.61.
 
 

Analysis published by Bruno, the 11/08/2012 at 09h30 GMT+2

Full analysis

 



Chart of the pair GBP/USD - Timeframe 4H
GBP/USD Technical Analysis
 
Chart of the pair GBP/USD - Timeframe 1H
GBP/USD Technical Analysis




 

GBP/USD Live Chart - Timeframe : 4h
Chart GBP/USD BID

 

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