GBPUSD 25th March – Rebound After the Big Fall?

March 26th, 2013
in contributors, forex

by Nick Simpson, Forex-FX-4X

GBPUSD 25th March – Technical Analysis – 25/3/13

  • GBPUSD is trading around the 1.5260 area. This is a key technical point of interest and it marks the previous support lows as can be seen on the weekly timeframe chart below.
  • This area has potential to see an element of resistance as previous demand can sometimes turn into supply.  However, we also note the following:
    • The weekly candle from last week was a bullish engulfing, where the real body engulfed the prior week.
    • Price has now taken out the recent range resistance high which are located just under this previous demand area.
    • Cable has moved marginally above the 23.6% Fibonacci level of the last significant leg lower.

Follow up:

  • Nonetheless, we will be monitoring the price action in this area for any sign of near term weakness.
  • We also note that a strong move above this area would encourage the GBPUSD bulls and could mark a shift back into the longer term range consolidation scenario.
  • See the pound/dollar W1 and D1 charts below for reference.

gbpusd GBPUSD 25th March – Technical Analysis Update – 25/3/13

Click to enlarge


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved