Resolved Question
Pls when will the up trend start in gbp/usd.The pair is currently @ 1.5118.Tanx.
about 1 year ago
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It seems that sentiment towards the pound has soured. Not only has it lost the past 9 days - it has now hit a 10 month low, touching the 1.4800 handle! It appears that traders and investors are pessimistic on the UK economy given it's fundamental state. Take a look at my buddy Forex Gump's post on why he thinks the pound could be in a world of pain this 2010.
about 1 year ago
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Answers (2)
The GBPUSD is presently trading around 1.4850 already. Since there are no clear signals of reversal in its 1-hour up to its weekly charts, the pair is assumed to remain on its downtrend. Until you it forms and breaks free from a reversal pattern say like a double/triple bottom, inverted head and shoulders, or a cup and handle, then I would say that it will continue moving down.
about 1 year ago
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When an uptrend will start for the pair is difficult to pinpoint at the moment. The GBPUSD has been on a strong downtrend ever since the BOE announced that they are open to further asset purchases and most traders are on the lookout for their actual decision this week. If the BOE indeed increases their easing program, a reversal from the downtrend could take a long while. Note that the GBPUSD is inching closer and closer to its yearly low...
about 1 year ago
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