ForexEdge Trades... GBP/USD - page 3

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Intraday bias in GBP/USD is turned neutral as it retreats sharply from intraday high of 1.4885. Note that

recovery from 1.4230 is expected to be limited by 100% projection of 1.4230 to 1.4769 from 1.4346 at

1.4885. Break of 1.4644 minor support will suggest that such recovery is completed and flip intraday bias

back to the downside. Further break of 1.4346 will confirm this case and target a retest of 1.4230 low

next. However, decisive break of 1.4885 will target 1.5053 resistance next.

"P&F GBPUSD10080 Box Size 450X3 or(7.71%) HI/LO

Data 2.454 - 1.0463 ~ 389 Month ~ 11851 Day

Database 1694 records 1.48097 (Last Close)

1978-01-01 00~00

2010-06-13 00~00 (GMT+01:00) Paris

BJF Trading Group MDunleavy chart"

2.4750|~45O||______________+___________________________________________________________|-0.86%|136.55%

2.4300|~9OO||______________x_o_________________________________________________________|0.98%|132.25%

2.3850|~135O|______________x_o_+_______________________________________________________|2.81%|127.95%

2.3400|~18OO|______________x_o___+_____________________________________________________|4.65%|123.65%

2.2950|~225O|______x___x___x_o_____+___________________________________________________|6.48%|119.34%

2.2500|~27OO|______x_o_x_o_x_o_______+_________________________________________________|8.31%|115.04%

2.2050|~315O|______x_o_x_o_x_o_________+_______________________________________________|10.15%|110.74%

2.1600|~36OO|______x_o_x_o___o___________+_________________________________+___________|11.98%|106.44%

2.1150|~4O5O|______x_o_x___+_o_____________+_______________________________x_+_________|13.81%|102.14%

2.0700|~45OO|__x___x_o___+___o_______________+_____________________________x_o_+_______|15.65%|97.84%

2.0250|~495O|__x_o_x___+_____o_________________+___+_______________________x_o___+_____|17.48%|93.54%

1.9800|~54OO|__x_o_x_+_______o_____________x_____+_x_+_____________________x_o_____+___|19.32%|89.24%

1.9350|~585O|o_x_o_+_________o_x___________x_o_____x_o_+_______________x___x_o_______+_|21.15%|84.94%

1.8900|~63OO|o_x_+___________o_x_o_x_______x_o_____x_o___+_________x___x_o_x_o_________|22.98%|80.64%

1.8450|~675O|o_+_____________o_x_o_x_o_x___x_o_x___x_o_____+_______x_o_x_o_x_o_________|24.82%|76.34%

1.8000|~72OO|+_______________o___o_x_o_x_o_x_o_x_o_x_o_______+_____x_o_x_o_x_o_________|26.65%|72.03%

1.7550|~765O|____________________o_x_o_x_o_x_o_x_o_x_o_________+___x_o___o_x_o_________|28.48%|67.73%

1.7100|~81OO|____________________o_x_o_x_o_x_o_x_o___o_____x___x_+_x_____o___o_________|30.32%|63.43%

1.6650|~855O|____________________o_x_o___o_x_o_x_____o_x___x_o_x_o_x_________o_x___x___|32.15%|59.13%

1.6200|~9OOO|____________________o_x_____o_x_o_______o_x_o_x_o_x_o_x_________o_x_o_x_o_|33.99%|54.83%

1.5750|~945O|____________________o_x_____o_x_________o_x_o_x_o___o_x_______+_o_x_o_x_o_|35.82%|50.53%

1.5300|~99OO|____________________o_x_____o___________o_x_o_______o_x_____+___o___o_x_o_|37.65%|46.23%

1.4850|~1O35|____________________o_x_________________o_x_________o_x___+_________o_x_o_|39.49%|41.93%

1.4400|~1O8O|____________________o_x_______________+_o___________o_x_+___________o_x_o_|41.32%|37.63%

1.3950|~1125|____________________o_x_____________+_______________o_+_____________o_+___|43.15%|33.33%

1.3500|~117O|____________________o_x___________+_________________+_______________+_____|44.99%|29.03%

1.3050|~1215|____________________o_x_________+_________________________________________|46.82%|24.73%

1.2600|~126O|____________________o_x_______+___________________________________________|48.66%|20.42%

1.2150|~13O5|____________________o_x_____+_____________________________________________|50.49%|16.12%

1.1700|~135O|____________________o_x___+_______________________________________________|52.32%|11.82%

1.1250|~1395|____________________o_x_+_________________________________________________|54.16%|7.52%

1.0800|~144O|____________________o_+___________________________________________________|55.99%|3.22%

1.0350|~1485|____________________+_____________________________________________________|57.82%|-1.08%

Column|||||||3_5_3_8_5_5_3_6_1_3_1_1_5_4_7_1_8_5_3_6_1_5_3_4_3_3_7_1_3_4_5_9_1_3_6_6_5_|

Count||||||||________________5___9_8_______O_________2_____________1_________3_________|

Full Size

BJF-Trading-Group_Excel_Chart

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As expected, Cable moved up in the Asian and the European sessions today to touch a high of 1.5968. The pair honoured the Resistance at 1.5970 (61.8% retracement of the fall from 1.7042 (Aug-09) to 1.4227 (May-09)) and is currently trading lower. We may see the markets go down towards 1.5900-1.5700, before another rally beyond 1.60 figure in the coming days.

"P&F GBPUSD1 Box Size 5X3 or(0.09%) CLOSE

Data 1.5965 - 1.5862 ~ 0 Month ~ 0.53 Day

Database 768 records 1.59201 (Last Close)

2010-08-03 02~34

2010-08-03 15~24 (GMT+01:00) Paris

BJF Trading Group MDunleavy chart"

1.5965|~5||||______________________________|0%|0.65%

1.5960|~1O|||______________x___x_______+___|0.03%|0.62%

1.5955|~15|||__________x___x_o_x_o_____x_+_|0.06%|0.59%

1.5950|~2O|||__________x_o_x_o_x_o_____x_o_|0.09%|0.55%

1.5945|~25|||__________x_o_x_o_x_o_____x_o_|0.13%|0.52%

1.5940|~3O|||__________x_o_x_o_x_o_x___x_o_|0.16%|0.49%

1.5935|~35|||__________x_o___o_x_o_x_o_x_o_|0.19%|0.46%

1.5930|~4O|||__________x_____o_x_o_x_o_x_o_|0.22%|0.43%

1.5925|~45|||______x___x_____o_x_o___o___o_|0.25%|0.4%

1.5920|~5O|||______x_o_x_____o_x_______+_o_|0.28%|0.37%

1.5915|~55|||______x_o_x_____o_x_____+___o_|0.31%|0.33%

1.5910|~6O|||______x_o_x_____o_x___+_____+_|0.34%|0.3%

1.5905|~65|||______x_o_x_____o_x_+_________|0.38%|0.27%

1.5900|~7O|||______x_o_x_____o_+___________|0.41%|0.24%

1.5895|~75|||______x_o_______+_____________|0.44%|0.21%

1.5890|~8O|||______x_______+_______________|0.47%|0.18%

1.5885|~85|||o_____x_____+_________________|0.5%|0.15%

1.5880|~9O|||o_x___x___+___________________|0.53%|0.11%

1.5875|~95|||o_x_o_x_+_____________________|0.56%|0.08%

1.5870|~1OO||o_x_o_x_______________________|0.6%|0.05%

1.5865|~1O5||o_x_o_________________________|0.63%|0.02%

1.5860|~11O||o_+___________________________|0.66%|-0.01%

Column|~115||6_4_3_1_6_1_4_5_1_1_7_3_3_6_8_|

Count|~12O|||______2___2_____2_2___________|

BJF Trading Group. Excel Chart. Full size.