stoictrader

GBPUSD Multiple Timeframe

In Charts on January 5, 2014 at 7:25 pm

A look at GBPUSD in multiple timeframes from Monthly down to H4.  The uptrend looks good on the Daily/Weekly/Monthly charts, but rangey or downtrend on the shorter term 4-hourly chart which is worth keeping an eye on.

1. Monthly. Recent range breakout; and moving average cross (13ema, 50sma) appears to show uptrend. The last swing did not (?) make a lower low (but room for some interpretation there).

gbpusdmonthly

2. Weekly. Better detail here, but the recent move higher has been in a severe rising wedge which looks unsustainable to me.

2014 01 04 gbpusd w1

3. (Weekly) The 52-Week Donchian indicator has been ranging, but has recently broken the 52-week high and potentially started new uptrend.

gbpusdweeklydonch

4. Daily. The Daily channel is holding, price is above 50 sma and 200 sma, and price is keeping to the middle or the channel; there is room within the channel for a retest of support at 1.63.

gbpusddaily

5. (Daily) The 20-Day Donchian indicator shows an uptrend that has been holding well since mid-2013. Room here for a retest of 1.63 as well.

gbpusddailydonch

6. A 3.5 ATR stop on the H4 Chart shows rangey holiday trade (not unexpected) but started a downtrend in the first couple days of the year. Worth keeping an eye on, especially what happens around 1.63.  A re-start of an uptrend on the H4 chart could be a good long entry.

gbpusdh4

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