GBPUSD Daily Analysis – September 19, 2014
GBPUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.7190 (Jul 15 high) had completed at 1.6051 already.
GBPUSD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.7190 (Jul 15 high) had completed at 1.6051 already.
The AUDUSD pair fell initially during the day on Thursday, but you can see found enough support below to turn things back around and form a hammer.
GBPUSD is facing the resistance of the downward trend line on 4-hour chart.
After consolidation, EURUSD broke below 1.2859 support and continued its downward movement from 1.3411, and the fall extended to as low as 1.2834.
AUDUSD continued its downward movement from 0.9401 and the fall extended to as low as 0.8938.
EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411.
It’s been a period of pause and reflection for equity markets, following the picture perfect price action of August, as the up elevator finally reached the next level, rolling gently over into the current phase of price congestion.
The AUDUSD pair initially fell during the course of the day on Tuesday, but found the 0.90 level to be supportive enough to bounce significantly.
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 could be treated as consolidation of the downtrend.
EURUSD moved sideways in a trading range between 1.2859 and 1.2987.