GBPUSD Forecast October 6, 2015, Technical Analysis
The GBPUSD pair initially tried to rally but then turned back around to form a rather negative candle.
The GBPUSD pair initially tried to rally but then turned back around to form a rather negative candle.
The EURUSD pair initially tried to rally during the day on Monday, but found far too much in the way of resistance near the 1.13 level.
AUDUSD seems to have bottomed out from its recent long-term selloff, as the pair is starting to trade inside a rising channel on its 1-hour chart. Price recently broke above the double bottom neckline as well, setting its sights on the next potential resistance areas.
The GBPUSD pair shot higher during the course of the session on Wednesday, crashing into the 1.55 handle.
The AUDUSD pair broke higher during the course of the day on Wednesday, clearing the top of the hammer that had formed on Tuesday.
AUDUSD has been moving higher in the past few days but it could be a large correction from the longer-term downtrend.
The AUDUSD pair fell during the course of the session on Wednesday, testing the 0.70 level for support.
The AUDUSD pair fell significantly during the course of the session on Tuesday, breaking down to a fresh, new low.
EURUSD broke above 1.1467 resistance, and reached as high as 1.1713.
GBPUSD recently broke past the resistance at the 1.5650-.1.5700 psychological levels and is showing signs of a pullback from the rally.