Forex Analysis for 11/01/12

GBP Fake-Out?!?!

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Leave a comment if you think the GBP is still Bullish…

Also, read Tony’s article about today’s U.S. news. You’ll find some insight into tomorrow’s releases too! Big news, last unemployment rate & Non-Farm before the Election! Read it here.

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  • Phil, great chart, thanks for sharing that, it is a huge help to the other readers.

  • Phil..

    Hi Guys ,take a look at the Aud/Usd, Friday, this is what Nathan is talking about a classic breakout from an accending wedge, nice bearish pinbar formed just before as well.
    I am bearish on the Gbp /Usd I expect it to continue down to the support level you have drawn around the 1.5750’s.

  • bigapple

    GBPUSD TL topic – this is cause TL s are also subjective (how you draw it) sometimes you draw to confirm your bias :-). You can easy draw a horizontal res and the bounce or fake was there.It can also be a channel building (just draw upper line and a parralel)

  • Lawrence Trowbridge

    I uploaded my weekly on the USD/JPY and on the weekly it has not broken the trend line and yet on the daily it has. It could bounce and head lower. Especially if the USD shows weakness tomorrow. If the USD is neutral or better it could wait till after the election.

  • Dave

    another great analysis Nathan,Have a good weekend

  • Nizar

    Thanks and have a great weekend

  • Dani

    Hi Nathan,

    I’m new to forex world, sorry if my analysis about GBP/USD is newbie~

    in the european morning i was almost going long on GBP/USD but i waited for UK PMI data which changed my mind due to red data plus news about euro zone were awful all day..

    thats a indecision candle isnt it? i think they are waiting for tomorrow news to choose which way to go.

  • jim schlegel

    Casey What is going on with the copy account. It seems to be headed south rather quickly