GBPUSD looking to continue its momentum

GBPUSD (1.5204)

GBPUSD is moving in a nice upward trend and seems to continue this momentum and currently traders will look to buy GBPUSD on dips around 1.5560 level. And if the dip is extended by GBPUSD, then another good buying level can be seen around 1.5450 level. RSI is a bit on the higher side but still I see GBPUSD making a move towards 1.5675 level.

  

TRADE:

Buy GBPUSD @ 1.5560 (buy again @ 1.5450 if required) for Profit Level @ 1.5675 with Stop @ 1.5400

GBPUSD looking to take retrace towards 1.4800 level

GBPUSD (1.4920)

GBPUSD is looking to take a dip below 1.4800 level at the moment and traders will be looking to sell GBPUSD for anything above 1.5000 level. GBPUSD might look to resume its upward trend from 1.4800 level and therefore traders will look to reverse their positions by buying around 1.4800 level. RSI is also in the middle and will support market movement in both direction and thus don’t give any indication of direction. Use of small stop might also come handy.

  

TRADE:

Sell GBPUSD @ 1.5015 for Profit Level @ 1.4800 with Stop @ 1.5065

GBPUSD gathering further momentum

GBPUSD

GBPUSD seems to be gathering further momentum and it current target seems around 1.5125 level and once GBPUSD manages to break above that level, it will be looking to target 1.5300 level. Conservative traders might look to buy GBPUSD on dip below 1.5000 level and from there will look to target somewhere around 1.5300 level.

Recommended Trade:

Buy GBPUSD @ 1.4935 for Profit Limit @ 1.5300 with Stop @ 1.4835

GBPUSD looking to target 1.4885

GBPUSD (1.4732)

GBPUSD is looking to target 1.4880 at the moment and that will complete long term retracement for GBPUSD. 1.4880 level will also be important because GBPUSD might resume downward trend from there and in case GBPUSD manages to break that level then we will be looking at GBPUSD heading above 1.5000 level. Currently traders will look to buy GBPUSD around 1.4675 level for nice intra-day trade.

  

TRADE:

Buy GBPUSD @ 1.4675 for Profit Level @ 1.4850 with Stop @ 1.4625

GBPUSD around important level

GBPUSD (1.4551)

GBPUSD is looking to get back into the long term downward trend. The situation is getting a bit confused for the conservative traders. Aggressive traders will be looking to sell GBPUSD on rise for retracement around 1.4675 level with a short stop. GBPUSD might take another rise towards 1.4900 level  and then resume long term trend again. Intra-day traders will look to hold back a bit for GBPUSD to settle back into downward trend.

  

TRADE:

Sell GBPUSD @ 1.4675 for Profit Level @ 1.4525 with Stop @ 1.4725

GBPUSD looking to target 1.4885

GBPUSD (1.4729)

GBPUSD manages to break above 1.4700 level yesterday and the movement seems to continue towards 1.4885 level. Around 1.4900 level, we will see GBPUSD tested by weekly resistance as well as GBPUSD will be touching long term Moving Average. If GBPUSD manages to break above 1.4900 level, then the long term upward trend will be confirmed and we will be looking at only buying GBPUSD after that. Currently traders will look to buy GBPUSD for targets around 1.4885 level and once GBPUSD gets there, aggressive traders might opt to sell with stop and conservative traders might choose to stay back and let GBPUSD settle on its trend.  

TRADE:

Buy GBPUSD @ 1.4705 for Profit Level @ 1.4885

GBPUSD (1.4505)

GBPUSD is currently taking some retracement at the moment and will look to resume its downward move again soon. The market, especially EURUSD is on very lower levels and this is creating a sense of panic among the people that the market might look to reverse itself. For this reason we are looking small movements in both directions.

TRADE:

Sell GBPUSD @ 1.4545 (Sell again @ 1.4615 if required) for Profit Level @ 1.4425 with Stop @ 1.4665

DAILY CHART:

GBPUSD (1.4454)

GBPUSD seems to be getting back into its downward trend after taking long term retracement and it seems that it might look to now take a dip below 1.4000 level. Traders will be currently looking to sell GBPUSD for anything above 1.4500 level and most preferably around 1.4550 level.

The initial targets will be around 1.4250 level and break of that will certainly open up targets below 1.4000 level. RSI, in daily charts, also have opened up enough for GBPUSD to make a dip towards 1.4000 level.

TRADE:

Sell GBPUSD @ 1.4535 (Sell again @ 1.4660 if required) for Profit Level @ 1.4235 with Stop @ 1.4720

GBPUSD looking to target 1.4235

GBPUSD is moving in a nice downward trend and this trend seems to continue and currently it seems that trades will be looking to sell GBPUSD around 1.4415 level for a nice intra-day trade towards 1.4235 target. RSI is a bit on the lower side but still seems to have more than enough space to make a move towards 1.4235 level.

TRADE:

Sell GBPUSD @ 1.4415 for Profit Level @ 1.4235 with Stop @ 1.4465

DAILY CHART:

Oversold GBPUSD looking to keep the momentum

GBPUSD has taken a very good dip and also have move in a nice downward trend. The downward trend seems to stay intact and we might see another dip by GBPUSD. The next dip by GBPUSD might be limited by the low value of RSI and this might also cause GBPUSD to take some retracement as well. The current retracement might go as high as 1.4840 and in that case will offer some very good trade entries. Aggressive traders might look to enter below that level as well.

TRADE:

Sell GBPUSD @ 1.3540 for Profit Level @ 1.3780 with Stop @ 1.4260

DAILY CHART:

GBPUSD caught in sideways movement

GBPUSD (1.5273)

GBPUSD seems to be caught in a sideways movement at the moment and traders looking to trade in range will have pretty good trading opportunities for Intra-day trades with decent stops. Currently the range is between 1.5400 and 1.5200 levels and we see the same pattern during this week. At the moment a good sell can be seen around 1.5320 level for a nice Intra-day trade.

Trade:

Sell GBPUSD @ 1.5322 for Profit Target @ 1.5220 and Stop @ 1.5430

GBPUSD taking retrace

GBPUSD (1.4894)

GBPUSD took a good dip towards its target at 1.4850 as predicted in our last report. For the time being, it seems that GBPUSD will take some retrace and currently the retrace seems to go towards 1.4975 level and mostly traders will be interested in selling GBPUSD around that level. In case the retracement is extended above 1.5000 level, then we might the traders might wait for GBPUSD to get towards 1.5135 and then sell GBPUSD again to average out positions. The 1.5135 is also good level for weekly traders and a good weekly resistance as well.

TRADE:

Sell GBPUSD @ 1.4975 and Sell again @ 1.5135 (if required) for Profit Level @ 1.4850 with Stop @ 1.5200

GBPUSD looking for a dip

GBPUSD (1.4961)

GBPUSD is looking to take a good dip and currently traders will hope to get GBPUSD around 1.5000 level to sell it for a nice dip towards 1.4850 level. Break of 1.4850 level could start a really extended dip by GBPUSD therefore long term traders might like to hold position for a break below 1.4850 and the use a reasonable stop loss to extend their profit. RSI is just around 40 and seems to have more than enough space for an extended dip.

TRADE:

Sell GBPUSD @ 1.5000 for Profit Level @ 1.4850 with Stop @ 1.5100

GBPUSD looking to continue momentum

GBPUSD (1.5017)

GBPUSD took a good dip to close last week and it seems that it might continue its momentum during next week. What traders will look to get it on rise to have its retracement towards 1.5125 level and around that level we might see GBPUSD resuming its downwards trend. The 1.5125 level seems a good level not only in daily but also in weekly charts and selling around that level will be a good entry. If GBPUSD manages to keep the current momentum, it will be heading towards 1.4800 level.

TRADE:

Sell GBPUSD @ 1.5125 for Profit Level @ 1.4850 with Stop @ 1.5200

GBPUSD might take a breather

GBPUSD: (1.5246)

GBPUSD seems to be going a nice downward trend but has touched the lower end of downward channel and therefore we might see some retracement by GBPUSD earlier next week. Secondly the RSI is also on the lower side, so it will also be pushing GBPUSD upwards. Currently we might see GBPUSD take retrace towards 1.5375 level and that will be top of downward channel and will provide a very good selling opportunity for GBPUSD. If the retracement is extended above 1.5375 level, then we might see GBPUSD heading above 1.5500 level.

TRADE:

Sell GBPUSD @ 1.5375 for Profit Level @ 1.5150 with Stop @ 1.5425

GBPUSD looking to go deep

GBPUSD: (1.5596)

GBPUSD seems to get going in its downward trend and we have a feeling that this move can be a bit extended one and we might be looking at GBPUSD breaking below 1.5400 level. RSI is just above 35 but seems to have enough space for GBPUSD to take an extended dip therefore we will be looking to sell GBPUSD for something around 1.5650 level for targets around 1.5450 level. Aggressive traders might even choose to sell GBPUSD below our level and we might not find GBPUSD initially moving towards 1.5650 level.

Trade:

Sell GBPUSD @ 1.5665 for Profit Level @ 1.5450 with Stop @ 1.5710

GBPUSD moving sideways

 GBPUSD: (1.5680)

GBPUSD seems to stuck in a sideways trend and GBPUSD is currently looking to move above 1.5700 level and we might see it making it towards 1.5750 and then falling again. We might see intra-day traders looking to sell GBPUSD around 1.5750 level with a small stop and targeting a decent intra-day trade.

TRADE:

Sell GBPUSD @ 1.5745 for Profit Level @ 1.5645 with Stop @ 1.5785 level. 

GBPUSD due for a breather

GBPUSD: (1.5784)

GBPUSD is taking a good dip as anticipated and this dip seems to continue but for the time being we might see some retracement by GBPUSD because it has reached an important level 1.5750 in weekly charts and also the RSI is on the lower side, so it will also be pushing GBPUSD upwards. We might see GBPUSD taking retracement towards 1.5875 level. If GBPUSD takes retracement towards 1.5875 level, we might see some good selling once again.

TRADE:

Sell GBPUSD @ 1.5875 for Profit Level @ 1.5750 with Stop @ 1.5930 level. Profit target can be extended to 1.5600