GBPUSD Forecast September 25, 2014, Technical Analysis
The GBPUSD pair fell during the course of the day on Wednesday, but as you can see remains above the support of 1.63 level.
The GBPUSD pair fell during the course of the day on Wednesday, but as you can see remains above the support of 1.63 level.
EURUSD failed to break above the downward trend line on 4-hour chart, indicating that the pair remains in downtrend from 1.3411.
AUDUSD remains in downtrend from 0.9401, and the fall extended to as low as 0.8831.
EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411, the rise from 1.2834 could be treated as consolidation of the downtrend.
GBPUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.7190 (Jul 15 high) had completed at 1.6051 already.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart.
After consolidation, EURUSD broke below 1.2859 support and continued its downward movement from 1.3411, and the fall extended to as low as 1.2834.
AUDUSD continued its downward movement from 0.9401 and the fall extended to as low as 0.8938.
EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411.
GBPUSD’s bounce from 1.6051 extended to as high as 1.6309, however, the bounce is likely consolidation of the downtrend