GBP/USD Analysis - Feb 11, 2014

GBP/USD Daily and Hourly Charts

GBP/USD Hourly Chart      

GBP/USD analysis - hourly chart

GBP/USD Daily Chart      

GBP/USD technical analysis - daily chart

GBP/USD Daily Technical Analysis

Current Exchange Rate: 1.6423 at the time of analysis update.

Intraday outlook: mildly bullish outlook.

GBP/USD's Latest Analysis (February 11, 2014): The near-term outlook is mildly bullish but for the immediate price-action we stay neutral. The pair is in relatively a strong resistance zone with frequent expected resistances below the key psychotically level of 1.6500. The first resistance is expected near 1.6465. A break of that should bring further gains towards 1.6485 to 1.6500.

We will stay cautious for the upside till a decisive break over 1.6500,but more specifically 1.6525, does not take place. On the downside the support at 1.6382 is critical. Any break below 1.6383/1.6380 will turn the focus back towards downside for 1.6320 first and then possibly a test of the recent 1.6252 and below.

Further Resources and notes

Note 1: Please also take a look at GBP/USD forecast for mid-term trading approach updated on the weekends.

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GBP/USD Interest rate Comparison
(For Carry Trades)
Pound sterling (GBP) interest rate
0.50%
U.S. dollar (USD) interest rate
0.25%
GBP/USD interest Rate Comparison
0.25%

GBP/USD Resistance and Support with Daily Pivot Points (Values at GMT 00:00)

Last Updated (Tuesday, 21 October 2014 02:32) GMT

Standard Pivot Point for GBP/USD Fibonacci Pivot Point for GBP/USD Woodie Pivot Point for GBP/USD Camarilla Pivot Point for GBP/USD
R3 1.6302 R3 1.6241     R3 1.6193
R2 1.6241 R2 1.6203 R2 1.6247 R2 1.6184
R1 1.6203 R1 1.6179 R1 1.6216 R1 1.6175
Pivot 1.6142 Pivot 1.6142 Pivot 1.6148 Pivot 1.6142
S1 1.6104 S1 1.6104 S1 1.6117 S1 1.6157
S2 1.6043 S2 1.608 S2 1.6049 S2 1.6148
S3 1.6005 S3 1.6043     S3 1.6139
Open 1.6090 Open 1.6090 Open 1.6090 Open 1.6090
High 1.6179 High 1.6179 High 1.6179 High 1.6179
Low 1.6080 Low 1.6080 Low 1.6080 Low 1.6080
Close 1.6166 Close 1.6166 Close 1.6166 Close 1.6166

GBP/USD's Correlations with other currency majors

GBP/USD Correlation Values:
 
GBP/USD
P
e
r
i
o
d
G
B
P
/
U
S
D
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/JPY
EUR
/USD
NZD
/USD
USD
/CAD
USD
/CHF
USD
/JPY
1
W
e
e
k
1 0.61 0.58 0.26 0.47 0.77 0.26 -0.77 -0.51 0.25
1
M
o
n
t
h
1 -0.81 -0.81 -0.82 0.17 0.36 0.64 -0.76 -0.57 -0.21
1
Y
e
a
r
1 0.28 -0.81 -0.94 0.85 0.9 0.88 0.65 -0.94 0.69

GBP/USD Correlation Graph:
 
0.61
   
0.28
   
 
0.58
   
-0.81
   
 
0.26
   
-0.94
   
 
0.47
   
0.85
   
 
0.77
   
0.9
   
 
0.26
   
0.88
   
 
-0.77
   
0.65
   
 
-0.51
   
-0.94
   
 
0.25
   
0.69
   
   
0.61
   
0.28
 
   
0.58
   
0.81
 
   
0.26
   
0.94
 
   
0.47
   
0.85
 
   
0.77
   
0.9
 
   
0.26
   
0.88
 
   
0.77
   
0.65
 
   
0.51
   
0.94
 
   
0.25
   
0.69

Notes and caution about Forex analysis for GBP/USD

The daily GBP/USD analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and GBP/USD price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for GBP/USD.

However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.

Please check the current GBP/USD Exchange Rate.

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