{"id":18339,"date":"2011-01-20T10:55:04","date_gmt":"2011-01-20T15:55:04","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18339"},"modified":"2011-01-20T10:55:04","modified_gmt":"2011-01-20T15:55:04","slug":"gbpusd-technical-signal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/20\/gbpusd-technical-signal\/","title":{"rendered":"GBP\/USD \u2013 Technical Signal"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>The Cable has put in a solid performance this year, booking gains of  2.4%. The pair looks to continue its ascension towards the falling trend  line off the August 2009 high.<\/p>\n<p>Looking at the weekly chart, the GBP\/USD  has traded between a defined triangle pattern with the lower line  rising off of the 2008 lows and the upper line declining from the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/04\/gbpusd-%e2%80%93-bias-to-the-downside\/\">August 2009 high<\/a>.<\/p>\n<p>As the pair begins to appreciate during January of this year, a new higher target level takes shape.<\/p>\n<p>As such, traders should target the upper line of the triangle which comes in this week at 1.6180.<\/p>\n<p>A breach above this level would target 1.6560, where falling trend line off of the November 2007 high is found.<\/p>\n<p>Rising weekly stochastics and last week\u2019s candlestick that closed with a shaved head support more gains in the pair.<\/p>\n<p>Support for the GBP\/USD is <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/10\/gbpusd-%e2%80%93-pressing-support-levels\/\">located at 1.5340<\/a>.<\/p>\n<p><strong>GBP\/USD \u2013 Weekly Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/GBPUSD_Weekly.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/GBPUSD_Weekly.JPG\" alt=\"\" width=\"593\" height=\"608\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/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>The Cable has put in a solid performance this year, booking gains of 2.4%. The pair looks to continue its ascension towards the falling trend line off the August 2009 high. Looking at the weekly chart, the GBP\/USD&#8230;<\/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-18339","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18339","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=18339"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}