Sunday, October 13, 2013
GBPUSD is facing the support of the upward trend line on daily chart, as long as the trend line support holds, the uptrend from 1.4813 could be expected to resume, and one more rise towards 1.6500 is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
Monday, June 10, 2013
USDJPY remains in downtrend from 103.73, the rise from 94.99 is treated as consolidation of the downtrend. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line support holds, the downtrend could be expected to resume, and one more fall towards 90.00 is still possible. On the upside, a clear break above the trend line resistance will indicate that lengthier correction of the downtrend is underway, then further rise to 100.00 – 101.00 area could be seen.