Forex Technical Analysis of GBPUSD for February 29, 2016

Support                              -   S1 : 1.3806 | S2 : 1.3735 | S3 : 1.3617
Resistance                          -   R1 : 1.3995 | R2 : 1.4113 | R3 : 1.4184
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

Studying the 4H chart of forex technical analysis for the exchange rate GBPUSD we can see that the price is moving within the upper channel of Andrew's Pitchfork and find support from the median line. Also, the price remains below EMA(50) and EMA(200).

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for February 15, 2016

Support                              -   S1 : 1.4442 | S2 : 1.4378 | S3 : 1.4314
Resistance                          -   R1 : 1.4570 | R2 : 1.4634 | R3 : 1.4698
Main Trend                       -   Neutral
Intraday Trend                 -   Neutral

Observing the 4H chart of forex technical analysis for the exchange rate GBPUSD we can see that the price is moving out of Andrew's Pitchfork and close between EMA(50) and EMA(200). EMA(50) and EMA(200) have a downward cross between them.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for February 08, 2016

Support                              -   S1 : 1.4439 | S2 : 1.4375 | S3 : 1.4300
Resistance                          -   R1 : 1.4578 | R2 : 1.4653 | R3 : 1.4716
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Observing the 4H chart of forex technical analysis for the exchange rate GBPUSD we can see that the price close on Friday between EMA(50) and EMA(200). The upward move reaches 50% retracement and the price remains within the lower channel of Andrew's Pitchfork (green lines). EMA(50) and EMA(200) have a downward cross between them.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for February 01, 2016

Support                              -   S1 : 1.4124 | S2 : 1.4004 | S3 : 1.3860
Resistance                          -   R1 : 1.4388 | R2 : 1.4533 | R3 : 1.4653
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

On 4H chart of forex technical analysis for the exchange rate GBPUSD, we can see that the price close below EMA(50) and EMA(200) which have a downward cross between them. The price moves within the lower channel of Andrew's Pitchfork. The median line and EMA(50) are first resistance levels.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for January 25, 2016

Support                              -   S1 : 1.4193 | S2 : 1.4119 | S3 : 1.4035
Resistance                          -   R1 : 1.4352 | R2 : 1.4436 | R3 : 1.4510
Main Trend                       -   Bearish
Intraday Trend                 -   Bullish

Studying the 4H chart of forex technical analysis for the exchange rate GBPUSD we observe the price move within the lower channel of Andrew's Pitchfork. The upward reaction finds resistant from EMA(50). The reaction reaches 23.6% Fibonacci Retracement. EMA(50) and EMA(200) remain with a downward cross.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for January 18, 2016

Support                              -   S1 : 1.4195 | S2 : 1.4135 | S3 : 1.4019
Resistance                          -   R1 : 1.4372 | R2 : 1.4488 | R3 : 1.4548
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

The exchange rate GBPUSD accept very strong pressure all these days, as we can see on the 4H chart of forex technical analysis. On Friday price finally, close inside lower channel of Andrew's Pitchfork exactly on the bottom line. Is very clear that the price remains below EMA(50) and EMA(200). This point is critical for the next move because right now is acting as support.
We must consider that there are Bullish Harmonic Patterns on 1H, 4H, and Daily chart.
An upward reaction is possible, but in any case, we must filter the move in order to be sure that is a real and valid reaction.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for January 04, 2016

Support                              -   S1 : 1.4698 | S2 : 1.4659 | S3 : 1.4586
Resistance                          -   R1 : 1.4811 | R2 : 1.4884 | R3 : 1.4924
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

On 4H chart of forex technical analysis for the exchange rate GBPUSD, we can realize that the price accepts strong pressure downward. The price remains below EMA(50) and EMA(200) which have a downward cross between them. We can observe that the price is moving within the upper channel of Andrew's Pitchfork and has declined near to median line.
We have to pay attention because at this level a support is possible who can lead the price to an upward reaction.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for December 21, 2015

Support                              -   S1 : 1.4872 | S2 : 1.4846 | S3 : 1.4807
Resistance                          -   R1 : 1.4936 | R2 : 1.4975 | R3 : 1.5001
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

According to 4H chart of forex technical analysis for the exchange rate GBPUSD, the price break downward the daily channel (black line) and close almost at the median line of Andrew's Pitchfork (blue lines). Also, price remains below EMA(50) and EMA(200) which have a downward cross between them.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for December 14, 2015

Support                              -   S1 : 1.5146 | S2 : 1.5078 | S3 : 1.5031
Resistance                          -   R1 : 1.5261 | R2 : 1.5308 | R3 : 1.5376
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Studying the forex technical analysis on 4H chart for the exchange rate GBPUSD, we can observe that the price remains above EMA(50) and EMA(200). There are two Andrew's Pitchfork. Price move within the lower channel of the first Andrew's Pitchfork (blue lines). Also, price move within the upper channel of the second Andrew's Pitchfork (red lines).

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for December 07, 2015

Support                              -   S1 : 1.5074 | S2 : 1.5036 | S3 : 1.4996
Resistance                          -   R1 : 1.5153 | R2 : 1.5193 | R3 : 1.5231
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Analyzing the 4H chart of forex technical analysis for the exchange rate GBPUSD, you will see that the price move upward of Andrew's Pitchfork (Blue lines). This Andrew's Pitchfork is still valid because the price remains below the trigger line (black line). For the better understanding of price action, we design another Andrew's Pitchfork (Crimson lines) and easily we observe that the price close between EMA(50) and EMA(200) and find resistant from the median line.

Considering all the details from the charts of forex technical analysis, we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for November 30, 2015

Support                             -   S1 : 1.5002 | S2 : 1.4976 | S3 : 1.4922

Resistance                         -   R1 : 1.5083 | R2 : 1.5136 | R3 : 1.5163

Main Trend                      -   Bearish

Intraday Trend                -   Bearish

Analyzing the 4H chart of forex technical analysis for the exchange rate GBPUSD you can observe that the price moves within the upper channel of Andrew's Pitchfork forming a local double bottom. EMA(50) and EMA(200) have a downward cross between them and price remain below.

Considering all the details from the charts of forex technical analysis, we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for November 23, 2015

Support                             -   S1 : 1.5142 | S2 : 1.5098 | S3 : 1.5014
Resistance                         -   R1 : 1.5270 | R2 : 1.5353 | R3 : 1.5398
Main Trend                      -   Bullish
Intraday Trend                -   Bullish

On forex technical analysis of 4H chart for the exchange rate GBPUSD, we can observe that the upward reaction finish at 61.8 retracements. Price failed for a valid break of EMA(200), and after that return below of EMA(200) and EMA(50) and moves within the upper channel of Andrew's Pitchfork. We have to mention the negative momentum of MACD.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for November 16, 2015

Support                             -   S1 : 1.5194 | S2 : 1.5152 | S3 : 1.5117
Resistance                         -   R1 : 1.5271 | R2 : 1.5306 | R3 : 1.5349
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

We can observe on the 4H chart of forex technical analysis that price moves between EMA(50) and EMA(200). Also, remain within the lower channel of Andrew's Pitchfork. We have to notice that EMA(200) and the median line is almost at the same level.

Considering all the details from the charts of forex technical analysis, we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for November 09, 2015

Support                             -   S1 : 1.4980 | S2 : 1.4907 | S3 : 1.4788
Resistance                         -   R1 : 1.5173 | R2 : 1.5292 | R3 : 1.5366
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

You can observe on the 4H chart of forex technical analysis that the price break downward Andrew's Pitchfork and is moving below of the lower channel. After the strong downward movement on Friday EMA(50) and EMA(200) proceed to a downward cross.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for November 02, 2015

Support                              -   S1 : 1.5334 | S2 : 1.5242 | S3 : 1.5175
Resistance                          -   R1 : 1.5493 | R2 : 1.5560 | R3 : 1.5652
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Price from the low level of 1.5106 proceeds to a reaction up to the level of 1.5426 which is 61.8% retracement. Observing the 4H chart of forex technical analysis, we will see that price is moving within the lower channel of Andrew's Pitchfork and near to the median line and above EMA(50) and EMA(200).

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for October 26, 2015

Support                              -   S1 : 1.5273 | S2 : 1.5232 | S3 : 1.5160
Resistance                          -   R1 : 1.5386 | R2 : 1.5459 | R3 : 1.5499
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

Studying the 4H chart of forex technical analysis we have to notice that EMA(50) and EMA(200) are above price and have an upward cross. Price is below of the lower channel of Andrew's Pitchfork and finds support from the green trendline.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for October 19, 2015

Support                              -   S1 : 1.5419 | S2 : 1.5396 | S3 : 1.5362
Resistance                          -   R1 : 1.5475 | R2 : 1.5509 | R3 : 1.5532
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

In forex technical analysis on 4H chart, we observe two Andrew's Pitchfork (the big in blue color and the small in green color). Price is moving at the lower channel of blue Andrew's Pitchfork. At the same time is moving within upper channel  of green Andrew's Pitchfork. Also is very important that price remains above EMA(50) and EMA(200), which have a golden cross (upward).

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for October 12, 2015

Support                             -   S1 : 1.5289 | S2 : 1.5252 | S3 : 1.5206
Resistance                         -   R1 : 1.5373 | R2 : 1.5420 | R3 : 1.5457
Main Trend                      -   Bullish
Intraday Trend                -   Bullish

We observe on 4H chart the exchange rate GBPUSD to move between EMA(50) and EMA(200). At the same time, the price is within the lower channel of an upward Andrew's Pitchfork.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for October 05, 2015

Support                            -   S1 : 1.5126 | S2 : 1.5069 | S3 : 1.5014
Resistance                        -   R1 : 1.5238 | R2 : 1.5294 | R3 : 1.5351
Main Trend                     -   Bearish
Intraday Trend               -   Bullish

Financial Announcements: USD - ISM Non-Manufacturing PMI

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis of GBPUSD for September 28, 2015

Support                            -   S1 : 1.5123 | S2 : 1.5067 | S3 : 1.4999

Resistance                        -   R1 : 1.5247 | R2 : 1.5315 | R3 : 1.5371

Main Trend                     -   Bearish

Intraday Trend               -   Bearish

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes: