{"id":12190,"date":"2010-08-19T10:00:40","date_gmt":"2010-08-19T14:00:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12190"},"modified":"2010-08-19T10:00:40","modified_gmt":"2010-08-19T14:00:40","slug":"gbpusd-multiple-time-period-analysis-signals-changing-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/19\/gbpusd-multiple-time-period-analysis-signals-changing-trend\/","title":{"rendered":"GBP\/USD \u2013 Multiple Time Period Analysis Signals Changing Trend"},"content":{"rendered":"<p><strong>By Russell Glaser &#8211; <\/strong>Examining the GBP\/USD from different time frames shows a shift in the long term trend to the downside.<\/p>\n<p>The weekly chart shows an uptrend that  was capped close to 1.5960, close to the 61.8% Fibonacci retracement  level from the 2009 August high to this year\u2019s low in May. A bearish  engulfing pattern from the previous week\u2019s trading hints at further  bearish movement in the pair.  A tweezers top reversal also is apparent  as the heights of the candlesticks differ only by 2 pips.<\/p>\n<p>The rising trend line looks to be nullified if the GBP\/USD will close  below the trend line this week. This week\u2019s high price reached as far  as the trend line at 1.5700 where the price promptly fell. This  resistance coincides with the low from October when the pair was caught  in a range trading environment prior to the previous bearish trend.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBPUSD-Weekly1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBPUSD-Weekly1.JPG\" alt=\"\" width=\"585\" height=\"580\" \/><\/a><\/p>\n<p>Moving onto the daily chart, further signals appear hinting at a  shift in the long term trend of the GBP\/USD. For the last two days the  pair has breached and closed below the rising trend line, signaling a  shift in the direction of the trend. The 20-day exponential moving  average has also turned to the downside, another sign that the trend is  reversing from an uptrend to a downtrend.<\/p>\n<p>Support levels are found at yesterday\u2019s low for the day at 1.5500  (S1) followed by the 200-day exponential moving average line at 1.5390  (S2).<\/p>\n<p>Resistance levels come in at this week\u2019s high of 1.5700(R1) and the 61.8% Fibonacci retracement level at 1.5960 (R2).<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBPUSD-Daily1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/GBPUSD-Daily1.JPG\" alt=\"\" width=\"585\" height=\"576\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/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; Examining the GBP\/USD from different time frames shows a shift in the long term trend to the downside. The weekly chart shows an uptrend that was capped close to 1.5960, close to the 61.8% Fibonacci retracement level from the 2009 August high to this year\u2019s low in May. A bearish engulfing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/19\/gbpusd-multiple-time-period-analysis-signals-changing-trend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/USD \u2013 Multiple Time Period Analysis Signals Changing Trend&#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-12190","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12190","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=12190"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12190\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}