GBPUSD Trading Idea 14.11.2013

After the negative announcements concerning the Retail Sales, GBPUSD is moving bearish today, finding support at 1.5987. As you can see from the chart above, the pair is moving above 100-SMA and 50-SMA, while the first one is almost at the same price with the support line of 1.5987. Thus a good idea could be to open long position a little above the support line, putting stop loss 10 pips lower and taking profit at 1.6030.

GBPUSD Update 11.11.2013

Finding intraday support twice at the level of 1.5976 GBPUSD is moving at the beggining of this week slightly bearish. The next clear suppport line is around 1.5942 while the pair is moving below from the 100-SMA and 50-SMA.

GBPUSD Trading Idea 08.11.2013

GBPUSD is consolidating between 1.6063 and 1.6118 today. The trend is bullish since the pair found a good support at the 200-SMA as you can point out at the attached chart. The basic idea for today is to take 2 long positions. The first position near 1.6060 and the second position above 1.6120. Both stop losses at 15 pips and take profits at 40 pips.

GBPUSD Trading Idea 06.11.2013

GBPUSD is moving in a bullish direction today after the positive announcements of the Industrial and Manufacturing Production. The currency found a resistance at 1.6118 waiting the evening announcement (17.00pm GMT+2)of "NIESR GDP Estimate". The price is far above 100-SMA and 50-SMA, while the second one is moving above the first as you can see at the hourly chart. A good trading idea would be to take a long position at the levels of 1.6063 putting stop loss 15 pips lower, while taking the profit above the price of 1.6110 price. An alternative scenario of breaking out the support of 1.6058 would lead the currency at 1.6013.

GBPUSD Update 30.10.2013

Daily Forex Review GBPUSD