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GBP/USD Reversing at trendline resistance?

Posted on October 20, 2009 at 3:06 in Intraday Techs, Medium & Long Term Techs by César B. Leiceaga

Cable is playing around an important bearish trendline resistance located a 1,6450 zone. Price has severely reversed after an brief upward stop hunt (one of the players favourite habits). The 1 hour chart is showing a big bearish divergence but still holding short term bulish trendline support.

Relevant supports at 1,6270 (38,20% Fib), 1,6240 (yesterday’s low) and 1,6130 - 1,6080 (50,00% Fib).

A break and close above previous highs 1,6448 would negate this theory.

GBP/USD Daily & 1 Hour Chart

César B.Leiceaga

Tags: gbpusd, gbpusd 1 hour chart, gbpusd 20 october 2009, gbpusd daily chart, gbpusd technical analysis

12 Responses to “GBP/USD Reversing at trendline resistance?”

  1. on 20 Oct 2009 at 3:31 am1Gladiato

    Muy buena Cesar, la estaba esperando desde ayer y se me escapó esta mañana, creo que aquí esperando un pullback es una buena opción meterse cortos.

    No sé si los pares con el yen los sigues, pero echa un vistazo al USDJPY si rompe el canal bajista actual sería una bandera alcista a por un buen objetivo.

    Saludos,

    Gladiat.

  2. on 20 Oct 2009 at 3:39 am2César B. Leiceaga

    Hola Gladiato,

    Como estas?? espero que bien. Creo que todavia vas a tener más oportunidades para entrar a buen precio en gbp/usd.
    Si que sigo los yen crosses y estoy 100% de acuerdo en tu planteamiento. Si confirma dicha figura sería una buena oportunidad de compra.

    Saludos!

  3. on 20 Oct 2009 at 3:57 am3Gladiato

    Todo bien Cesar.

    El GBPJPY también estaría haciendo algo parecido, a mi me suele gustarme adelantarme a que la figura se haya formado completamente y quede confirmada, suelo tratar de subirme en uno de sus extremos y usar la confirmación para aguantar la posición más. He visto que aunque así la media de acierto no es tan buena el riesgo beneficio se me dispara y salgo ganando. Por mi parte estoy ya largo en el USDJPY apostando por la creación de dicha banderita.

    En el GBPUSD he puesto una limitada a 1,6427 con stop en el máximo, si llega estoy dentro, si no, otro día será.

    Todo está cayendo, futuros, crudo, oro, para mi una cofirmación de que el EU, GU deben caer porque el dolar se aprecie.

    Saludos,

    Gladiat.

  4. on 20 Oct 2009 at 4:06 am4César B. Leiceaga

    Me estoy animando con esa compra en USD/JPY, voy a esperar un rato y si retrocede hasta 90.00 me lanzo…Yo espero el giro en el eur,gbp y demás pero parece que las bolsas no nos dan un respiro con las subidas…

    Saludos.

  5. on 20 Oct 2009 at 4:17 am5Gladiato

    Yo veo una gran resistencia en 90,35 si la pasa con claridad nos vamos ya para arriba.

    Voy a seguirlo más de cerca.

    Gladiat.

  6. on 20 Oct 2009 at 5:09 am6carlab

    Hola Cesar, Gladiato:
    Me quedo con la idea del cable, donde ya estoy corto. Doblo en 1.6460, hihg 23/9. Si las bolsas caen, el JPY creo que se apreciaría como el USD, pero técnicamente podéis tener razón.

  7. on 20 Oct 2009 at 10:06 am7su25

    Hi Cesar
    Was last week’s candle a bullish engulfing candle? If yes, what is the significance?
    Thanks and regards.

  8. on 20 Oct 2009 at 8:34 pm8Jesus

    Amigos, tienen algun grupo de chat..donde podamos apoyarnos en visualizar los trades? ..

  9. on 21 Oct 2009 at 3:08 am9César B. Leiceaga

    Enhorabuena GLADIATO, por ese trade en USD/JPY.

  10. on 21 Oct 2009 at 3:10 am10César B. Leiceaga

    Hola Carlos,
    He vuelto ha entrar corto en gbp/usd en 1,6485. La verdad nada cómodo porque parece estar rompiendo la linea de tendencia bajista….veamos como cierra.

    Suerte!

  11. on 21 Oct 2009 at 3:13 am11César B. Leiceaga

    Hi su25,

    You are right, the weekly chart offers a bullish engulfing candle and reversal pattern but in my opinion needs to be confirmed with a close above 1,6480 - 1,6500 area.

    Best Regards,

    Sorry for the delay :(

  12. on 21 Oct 2009 at 3:14 am12César B. Leiceaga

    Hola Jesus,

    Comentamos todo por el blog, si tienes cualquier pregunta, no dudes en comentarla por aqui.

    Un saludo.

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