Tag: GBPUSD Analysis

GBPUSD – Finally out of the range

The GBPUSD traded for month and a half in a not well defined range, it was difficult to find a trade because it was rejected at random levels, therefore it was impossible to determine where to enter the market in the short term charts. Earlier this morning though, the pound broke through an important LT resistance level, as well as its short term level, triggering a bullish market condition:

I will be looking for long opportunities. The next LT resistance level is at 1.6352, around 250 pips from where the GBPUSD is trading right now.

Trade Safe!

Raul Lopez
Forex Training

GBPUSD Analysis

Focusing on GBP crosses

Apparently the GDP announcement got things moving in the GBP crosses (at least most of them). The GDP came out at 0.8%, forecast was 0.4%, it was a good figure, but not as good as the movements we saw this morning, I guess sometimes traders need a catalyst to get things moving.

GBPJPY is in a bullish market condition, next LT level is at 135.05
GBPCHF, bullish and next level is at 1.5856
GBPCAD, bullish and next level is at 1.6386

The only wan that is still trading in a range is the GBPUSD, not that well defined by the way, so I’m staying out of this one.

Trade Safe!

Raul Lopez
Forex Training

GBPCAD Analysis, GBPCHF analysis, GBPJPY analysis, GBPUSD Analysis

Major Power

The market is getting clearer and clearer by the minute, yesterday I was unsure about many currency pairs, they were either trading at an important level in a not well defined range in the short term charts, or unsure about the long term levels.

But things are different now, most pairs cleared up their path and are in the clear market condition, heading directly to the next LT level.

Today a like the Majors:

EURUSD – Clear bearish market condition (shorts in play)
USDCHF – Bullish when trading above 0.9697 (longs in play)
GBPUSD –Bearish when trading below 1.5730 (shorts in pay)
USDJPY – Clear Bearish market condition (although I don’t think I’ll open a trade in this one because of a possible BOJ intervention).

That’s my plan for the majors!

Trade Safe!

Raul Lopez
Forex Training

EURUSD Analysis, Forex majors, GBPUSD Analysis, USDCHF analysis, USDJPY Analysis

GBPUSD – Long signal

The GBPUSD is trading in a bullish market condition, I have set an stop order to go long at 1.6023:

My SL is at 1.5965 and my TP at 1.6330, I’m shooting for 307 pips and risking only 58 pips, good deal isn’t it? I’m using a Risk-reward ratio of 5.3:1

It’s important to note that the GBPUSD should not close below 1.5974, otherwise I will cancel it

Trade Safe

Raul Lopez
Forex Course

GBPUSD Analysis, possible signal

GBPUSD – Following the EURUSD

The GBPUSD was trading in a short term, not well defined range, but earlier this morning it broke through the resistance level triggering a bullish market condition:

I will be looking for long opportunities in the GBPUSD. The next LT resistance level in the pound is around 1.5895 (we have plenty of room before the market gets there).

Trade Safe!

Raul Lopez
Forex Training

GBPUSD Analysis

GBPUSD – Still ranging (trading plan)

The GBPUSD is ranging around a long term important level:

GBPUSDSince the range the GBPUSD is trading in is not well defined, I’m just going to wait for the pound to break the ST range:

If the GBPUSD breaks the upper green resistance level, it will trigger a bullish market condition and only long opportunities will be in play.

If the Pound-dollar breaks the lower support level, it will trigger a bearish market condition and only short opportunities will be in play.

Trade Safe!

Raul Lopez
Forex Training

GBPUSD Analysis

GBPUSD – Same as the Aussie

The GBPUSD is also trading in a bearish market condition, it is just a few pips away from the ST resistance level, so as long as the GBPUSD keeps trading below 1.5474 I will be looking for short opportunities:

GBPUSD
GBPUSD

Yes I know, the existing home sales date screw every single currency pair up, but hey, the GBPUSD is still trading below the ST resistance level, so lets keep an eye open on the pound ok?

Trade Safe!

Raul Lopez
http://www.protradingnow.com/

GBPUSD Analysis