GBPUSD Daily Analysis – October 15, 2014
GBPUSD broke below 1.5951 support, indicating that the downtrend from 1.7190 (Jul 15 high) has resumed.
GBPUSD broke below 1.5951 support, indicating that the downtrend from 1.7190 (Jul 15 high) has resumed.
The AUDUSD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance.
GBPUSD remains in uptrend from 1.5951, the fall from 1.6226 is likely correction of the uptrend.
EURUSD is facing 1.2791 resistance, a break of this level will signal resumption of the uptrend from 1.2500, then next target would be at 1.2850 area.
AUDUSD appears to be forming a reversal chart pattern on its 4-hour time frame, indicating that the downtrend is already over.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart.
GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.6524, as long as the trend line resistance holds, the rise from 1.5951 could be treated as consolidation of the downtrend.
AUDUSD moved sideways in a trading range between 0.8642 and 0.8826.
GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.6524, and the fall extended to as low as 1.6112.
AUDUSD broke above the resistance of the downward trend line on 4-hour chart, indicating that the downtrend from 0.9401 had completed