GBP/USD soaring higher....

inspector_monkfish

lou29 wrote: »

Where are you watching this?? Thanks:money:

at my desk!

whatusername

Anywhere we can view this online IM?

inspector_monkfish

whatusername wrote: »

Anywhere we can view this online IM?

this has a 60sec delay..

http://www.interchangefx.co.uk/pages/41/Interchange_FX_-_Forex_Live_Rates

lou29

Thankyou MONKFISH,

inspector_monkfish

looks like we have a downward trend for GBP this morning, after positive signs from the US last night after the FOMC meeting

currently trading around 1.41, it needs to avoid going through 1.4040
if it goes through that level , it'll probably continue downward and possibly past 1.40....

if it does somehow make an upward turnaround, 1.4170 is the key support level to breakthrough

Nationwide House price index was just published, and although not pretty, was not quite as bad as some were predicting ( only down 1.3% for the month, prediction was 1.7%)

have a nice day now :beer:

whatusername

Couldn't get that site working, my works connection is pants however found another. http://http://www.xe.com/

Trading at 1.4139 and climbing.

inspector_monkfish

neilbond007 wrote: »

thanks for that... that's my morning sorted

have a look here for a better explanation
http://business.solveyourproblem.com/forex-trading/fibonacci-analysis-forex.shtml

inspector_monkfish

inspector_monkfish wrote: »

looks like we have a downward trend for GBP this morning, after positive signs from the US last night after the FOMC meeting

currently trading around 1.41, it needs to avoid going through 1.4040
if it goes through that level , it'll probably continue downward and possibly past 1.40....

if it does somehow make an upward turnaround, 1.4170 is the key support level to breakthrough

Nationwide House price index was just published, and although not pretty, was not quite as bad as some were predicting ( only down 1.3% for the month, prediction was 1.7%)

have a nice day now :beer:

well surprisingly, we have smashed through the upside support level of 1.4170

now trading around 1.4190

next level to look for is 1.4200


this is really promising, as it shows that even though GBP has had alot of bad news thrown at it in the last 24hrs, it is still managing to fight back....

whatusername

Over 1.42 now, it's flying today. Keep going man

inspector_monkfish

whatusername wrote: »

Over 1.42 now, it's flying today. Keep going man

very encouraging indeed
next level to look for is 1.4225

also GBP is gaining against EUR, up to 1.0885

been some shocking announcements this morning regarding German unemployment and Spanish housing, and more threats to slash EUR base rate.

which all backs up my theory, that everyone should stop picking on UK, and have a look at the state of their own countries !!