Thursday, April 28, 2011

GBP/USD Technical Analysis

The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6090 and 1.5715.

Yesterday's rise filled my target at 1.6750 and currently a consolidation pattern is underway, aiming at 1.6640 support. The bias on the larger frames is still bullish, so current slide is to be considered corrective before next advance towards 1.6860.

EUR/USD Technical Analysis

EUR\/USD is in a an uptrend, after bottoming at 1.2870 (January 9, 2011). Technical indicators are ascending and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3917 and 1.3440.

Yesterday's rise filled my target at 1.4860 and with current high at 1.4882 the pair has entered a larger consolidation pattern, aiming to correct 1.4631-4882 uptrend. The intraday bias is negative for 1.4797, en route to 1.4760 before final rise for 1.4960.

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