GBP/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Cable is set to rebound. The pair has just bumped into the lower boundary of the bullish channel, which is strengthened by the long-term moving average. GBP/USD is expected to bounce off of the support area at 1.4266/30 and then rally up to 1.4550. In the longer-term perspective, the price could try re-testing 1.4670, namely the February high. Alternatively, in case the bears keep pushing the rate lower despite the density of the demand zone, another potential line in the sand will be at 1.4190/70, represented by the weekly S1 and daily S3. The distribution between the longs and shorts, however, is against the rally, being that the Sterling is already overbought—65% of traders hold bullish positions.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 15 Mar 2016 14:12:13 GMT

USD/NOK 1H Chart: Channel Down

As USD/NOK has just approached the upper edge of the bearish pattern, it is now expected to start depreciating in the direction of 8.36 where it is going to find the green boundary. Bearish expectations are fuelled by the fact that the current price is limited by the weekly R1 and daily R2 from above. Over the next few hours

Tue, 15 Mar 2016 07:29:09 GMT

GBP/CAD 1H Chart: Channel Up

So far this year has been bearish for the Sterling, but the lower time frames suggest the currency has the potential to negate some of the latest losses within the emerging ascending channel. Eventually, in the perspective of the next several weeks, GBP/CAD might recover up to 1.9350, but for now the gains are to be limited by the upper

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.