GBPUSD Weekly Analysis – July 17, 2016
GBPUSD remains in downtrend from 1.5016, the rise from 1.2795 is likely consolidation of the downtrend.
GBPUSD remains in downtrend from 1.5016, the rise from 1.2795 is likely consolidation of the downtrend.
EURUSD seems to have bullish momentum on its side at the moment, as price is moving inside an ascending channel and bouncing off support. A test of the channel resistance at 1.1600 could be underway but there’s nearby resistance at the top of a longer-term range around 1.1450.
It was yet another interesting week for the USD, which continued to remain firmly in the control of the bears, with the pair closing the week on a wide spread down candle as pressure continues to build on the pair.
EURUSD stays in the upward price channel on daily chart, and remains in uptrend from 1.0517.
The NZDUSD pair broke higher during the day on Tuesday, clearing the top of the hammer that formed on Monday.
The GBPUSD pair initially rose during the course of the session on Wednesday, but turned right back around to form a bit of an exhaustive candle.
The AUDUSD pair fell during the course of the session on Wednesday, breaking below the 0.76 level at one point.
The EURUSD pair had a slightly positive session during the day on Wednesday, pre-FOMC Statement.
EURUSD remains in uptrend from 1.0822, the fall from 1.1464 is likely consolidation of the uptrend.
The AUDUSD pair initially tried to pull back during the course of the session on Monday but then ended up rallying.