Forex Technical Analysis for GBPUSD July 22, 2014

Monthly Chart

Studying forex technical analysis at monthly chart, we observe that the exchange rate has break upward the triangular formation and moves above EMA(50) and EMA(200).

Area 1.6365 – 1.6645 is neutral zone.

For as long the GBPUSD remains above the neutral zone our trading targets will be : 1.7350 -1.7780.

If the exchange rate moves below the neutral zone our trading targets will be : 1.6100 , 1.5730 , 1.5350 , 1.4800.

Weekly Chart

According to forex technical analysis in weekly chart the exchange rate GBPUSD moves above EMA(50) and EMA(200) and at the same time within upper channel of Andrews Pitchfork and find support from the median line.

Area 1.6939 -1.7020 is neutral zone. A movement above the neutral zone will lead as to the trading targets : 1.7380 , 1.7750 , 1.8000.

If price moves below the neutral zone then our trading targets will be : 1.6750 , 1.6520 , 1.6350.

Daily chart

The exchange rate moves above EMA(50) and EMA(200) and within an upward channel.

Area 1.7080 – 1.7120 is neutral zone.

Above the neutral zone our trading targets will be : 1.7190 , 1.7330 , 1.7400 , 1.7500.

If price moves below the neutral zone our targets will be: 1.6980 , 1.6880 , 1.6700.

4 H Chart

Area 1.7070 – 1.7085 is neutral zone.

A movement above the neutral zone we lead us to trading targets: 1.7115 , 1.7140 , 1.7170 , 1.7190.

Below the neutral zone our targets will be : 1.7030 , 1.7000 , 1.6960.

1H Chart

Area 1.7070 – 1.7080 is neutral zone. Above the neutral zone our targets will be : 1.7100 , 1.7120 , 1.7140. Below the neutral zone our targets will be : 1.7050 , 1.7030.

We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.

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