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Forex Market: GBP/USD daily trading forecast

Forex Market: GBP/USD daily trading forecast

Forex Market: GBP/USD daily trading forecast

Yesterday's trade saw GBP/USD within the range of 1.5245-1.5347. The pair closed at 1.5261, falling 0.23% on a daily basis, while extending losses from Tuesday. The daily low has been the lowest level since October 14th, when the pair registered a low of … Continue reading at

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According to the official trade balance report published the other day, New Zealand's trade balance saw an even bigger deficit in September, Market Leader reports. In particular, the deficit increased all the way up to 1222 million NZD. It should be … Continue reading at

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Forex Trading - 3 Proven Strategies You Can Start Using Today

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GBPJPY Forex Forecast - Ascending Channel Setup

GBPJPY has started to trend higher on the short-term time frames, with a rising channel just forming on the 4-hour and 1-hour charts. Price got rejected on its latest test of the resistance and may be ready to head back towards support. For now, the mid … Continue reading at

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Forex – NZD/USD drops on hawkish FOMC statement – – The New Zealand dollar dropped against its U.S. counterpart on Thursday, as indications of a possible U.S. rate hike before the end of the year lent support to the greenback. NZD/USD hit 0.6648 during late Asian trade, the … Continue reading at

Pakistan forex reserves stand at $ 19.81bn

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* In today's Forex Forecast, Steven Woodcock, Senior FX Analyst at Plutus FX, offers his outlook on GBP/USD, and further shares his strategy to trade the flat formation in the charts.

Markets awaiting more guidance

Woodcock notes that the no actual guidance was given yesterday by Yellen's and markets await some concrete guidance. On trading, he comments how the previous Fibonacci trade has changed and markets have evolved to a different trade, largely due to retail players, with more emphasis on 'numbers' rather than 'areas'.

He further adds that markets are playing the range game at the moment.

GBP/USD: Looking for further weakness

Woodcock says how he maintained a sell call last week on cable, and he remains on the bearish camp for the cross. On the downside he maintains a downside target at 1.45, with the pair now trading at the lower end of its range and waiting for a break lower.

Rastani maintains a long bias on EUR/GBP, with the cross having broken out of a flag pattern yesterday. On this, Woodcock explains his strategy to trade the flag pattern breaks - Watch the video for further insights.

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    • holya69
    • October 29, 2015

    ratan is awesome. I love this channe5

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