{"id":11724,"date":"2010-08-04T09:24:05","date_gmt":"2010-08-04T13:24:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11724"},"modified":"2010-08-04T09:24:05","modified_gmt":"2010-08-04T13:24:05","slug":"gbpusd-technical-analysis","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/04\/gbpusd-technical-analysis\/","title":{"rendered":"GBP\/USD Technical Analysis"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The Cable is testing the 61.8% Fibonacci retracement level from the August 2009 high.<\/p>\n<p>Following this week\u2019s bullish movement in the GBP\/USD, the pair has broken past a previous <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/07\/27\/gbpusd-testing-resistance\/\">resistance level <\/a>at  1.5820, which has now become a near term support level (S1). The  GBP\/USD is currently testing the 61.8% Fibonacci retracement level  (1.5960). This is a retracement from the August 2009 high to this year\u2019s  low.<\/p>\n<p>The GBP\/USD failed to breach this resistance level both yesterday and  today. A move above this line would target the short term resistance at  1.6065 (R2), followed by the January high at 1.6450 (R3).<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBP_USD_Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBP_USD_Daily.JPG\" alt=\"\" width=\"595\" height=\"607\" \/><\/a><\/p>\n<p><em><strong><a title=\"Forex\" href=\"..\/..\/\">Forex<\/a> <\/strong><strong><a title=\"Market Analysis\" href=\"..\/2010\/08\/02\/2010\/07\/30\/category\/forex-market-news-analysis\/\">Market Analysis<\/a> provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex                               Yard.<\/a><\/span><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                        may not be suitable for all      investors.       There    is  a              possibility      that          you   could       sustain a  loss   of  all   of    your              investment and            therefore  you        should   not    invest        money  that   you            cannot afford to         lose. You         should    be      aware of     all       the    risks       associated     with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The Cable is testing the 61.8% Fibonacci retracement level from the August 2009 high. Following this week\u2019s bullish movement in the GBP\/USD, the pair has broken past a previous resistance level at 1.5820, which has now become a near term support level (S1). The GBP\/USD is currently testing the 61.8% Fibonacci &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/04\/gbpusd-technical-analysis\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD Technical Analysis&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11724","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11724"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}