Falling Channel: GBP/USD has been trading in a falling channel since retreating from 1.56 at the beginning of May. This channel anchored below a rising channel and price has fallen to a previous pivot around 1.5025. This is below 61.8% retracement of the previously broken rising channel. As we get into the last session of this week, GBP/USD has rallied above 1.51 to about 1.
By Fan Yang | May 24, 2013 | FX Times
Bank of England Governor Mervyn King is well-known for his downbeat manner and fairly gloomy outlook on the UK economy, not so for his final Inflation Report. Maybe the thought of impending retirement is boosting King's mood, but he even managed a smile this time.
By Kathleen Brooks | May 15, 2013 | Forex.com
Channel support: After multiple failures to break 1.56, GBP/USD has fell near a rising channel support which is around 1.5350 at the moment. If the market can find support here, there is short-term upside risk first back to the 1.5460-80 area to test is as resistance after it has shown support for a price top.
By Fan Yang | May 10, 2013 | FX Times
Consolidation, price top, central pivot: GBP/USD has been consolidating since failing to break above 1.56. It has also found support around 1.5480. During the 5/7 session however the market pushed GBP/USD to 1.5445 before pulling back to 1.55. The break to the downside is not clear, but price still has a chance to establish a top.
By Fan Yang | May 08, 2013 | FX Times
With Europe out on holiday today the focus in on the US. The dollar has been fairly quiet so far this morning after yesterday's sharp selloff, but the longer term outlook still looks fairly bleak as investors have once again got the taste to ditch the dollar.
By Kathleen Brooks | May 01, 2013 | Forex.com
Rising Channel: GBP/USD has been rallying nicely in a rising channel since the March and 2013 low of 1.4830. As we get into the 4/30 US session, it stopped around 1.5545 and a rising channel resistance.
By Fan Yang | Apr 30, 2013 | FX Times
Rising channel: The GBP/USD remains trading in a rising channel since the 1.4830 March and 2013 low. However, since hitting 1.5411, cable fell lower and has been consolidating since. It has come down to around the 1.52 handle, almost testing the rising channel support. So far, the market remains above the channel support though the bullish outlook has been subdued.
By Fan Yang | Apr 24, 2013 | FX Times
Rising channel: The GBP/USD has been rallying within a rising channel since the March and 2013 low of 1.4830 as shown in the 4H chart. As we start the week, cable is holding just above 1.52, and just above the rising channel support. The 4H RSI is at 40, a break and hold below which would reflect loss of bullish momentum in the 4H time-frame. A break below 1.52 would probably drag the RSI below 40.
By Fan Yang | Apr 22, 2013 | FX Times
Consolidation breakout: Since finding resistance at 1.5411, GBP/USD has been consolidating, coming down to 1.5270. However, during the 4/16 US session, cable rallied an broke above the consolidation trendline as seen in the 4H chart. Note that the prevailing trend was also bullish since the March and 2013 low of 1.4830. This bullish price action opened up the 1.
By Fan Yang | Apr 17, 2013 | FX Times
Cable Tumbles to Long-Term Support Following Dovish BOE Minutes
Feb 21, 2013 | FX Bootcamp
After making a pullback on the resistance at 1.5808, the pair GBP/USD resumed its downtrend and has broken its last lows. The break of 1.56 gave us a new sell signal and the price is currently testing the 1.55 psychological support. This level is a daily support and could led to a slight movement of correction for a pullback on 1.56.
Feb 15, 2013 | Forextribe
Cable Hits New Multi-Month Low Following BOE Inflation Report
By David Pegler | Feb 14, 2013 | FX Bootcamp