GBPUSD Daily Analysis – September 16, 2014
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 could be treated as consolidation of the downtrend.
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.
The AUDUSD pair went back and forth during the course of the day on Monday, showing the 0.90 level to be supportive though, which of course is very important as far as we can see.
EURUSD remains in downtrend from 1.3411, the rise from 1.2859 is likely consolidation of the downtrend.
GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.7190 (Jul 15 high), the rise from 1.6051 is likely consolidation of the downtrend.
There was no hiding place for the Australian dollar last week, which came under relentless and remorseless pressure, with the December futures contract closing with yet another wide spread down candle on Friday, and further confirming the bearish picture for the Aussie dollar.
GBPUSD’s bounce from 1.6051 extended to as high as 1.6276, however, the bounce is likely consolidation of the downtrend from 1.7190 (Jul 15 high),
EURUSD continued its sideways movement in a range between 1.2859 and 1.2987.
The AUDUSD pair broke higher during the course of the day on Thursday, but found the 0.92 level to be far too resistive in order to go higher.
EURUSD is forming a sideways consolidation in a range between 1.2859 and 1.2987.