GBPUSD Daily Analysis – April 3, 2014
GBPUSD remains in uptrend from 1.6465, the fall from 1.6684 is likely consolidation of the uptrend.
GBPUSD remains in uptrend from 1.6465, the fall from 1.6684 is likely consolidation of the uptrend.
AUDUSD has formed a reversal pattern on its 1-hour time frame, indicating that the uptrend may be over and that a selloff is ready to take place.
Despite the sharp selloff that took place in today’s Asian trading session and the double top pattern that formed on the short-term time frames, NZDUSD’s uptrend is still intact.
The USDJPY pair rose during the session on Tuesday, shooting straight up in the air.
AUDUSD remains in uptrend from 0.8995, the fall from 0.9294 could be treated as consolidation of the uptrend.
EURUSD’s downward movement from 1.3966 extended to as low as 1.3705.
AUDUSD continued its upward movement from 0.8995, and the rise extended to as high as 0.9294.
GBP/USD has shown momentum in crrying on with its ongoing uptrend, as it bounced off support on the rising trend line connecting the lows on the 4-hour time frame.
The USD/JPY pair fell during the bulk of the session on Wednesday, but as you can see found enough support in order to turn things back around and bounce above the 102 level.
The AUD/USD pair rose during the session on Tuesday, breaking above the 0.9150 handle.