GBPUSD Daily Analysis – September 16, 2014
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 could be treated as consolidation of the downtrend.
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 could be treated as consolidation of the downtrend.
EURUSD moved sideways in a trading range between 1.2859 and 1.2987.
GBPUSD’s bounce from 1.6051 extended to as high as 1.6276, however, the bounce is likely consolidation of the downtrend from 1.7190 (Jul 15 high),
The AUDUSD pair broke higher during the course of the day on Thursday, but found the 0.92 level to be far too resistive in order to go higher.
The AUDUSD pair fell during most of the session on Wednesday, but bounce significantly off of the 0.91 handle, as we formed a massive hammer.
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6091.
AUDUSD has been trading inside a rising channel on its 1-hour forex time frame for the past month, but it looks like a breakdown is happening.
USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 101.50, as long as the trend line support holds, the fall from 105.70 could be treated as consolidation of the uptrend.
GBPUSD’s downward movement from 1.6643 extended to as low as 1.6168.
The EURUSD pair fell hard during the session on Thursday as the European Central Bank surprised that the markets with a slight rate cut.