11-22-2010, 10:44 AM
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 Forexpros.com Daily Analysis - 22/11/2010
ForexPros Daily Analysis November 22, 2010
Free webinar on ForexPros - How to trade during volatile markets
Expert: Nour Eldeen M. Al-Hammouri
Start: Tue, Nov 30, 2010, 10:00 ET
End: Tue, Nov 30, 2010, 11:00 ET
In this webinar we are going to give you some simple strategies and indicators which can help daily traders to profit from volatile markets. And we will talk about VIX chart and how it is an indicator for USDX bullish patterns Click here to join free
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Forex Analysis GBPUSD
1) Forex Trading Signal For GBPUSD
Forex Trend Analysis
The trend for GBPUSD this week seems to be bullish (UP)
Forex Technical Analysis
Weekly Chart
The price continues to make higher high which is a sign that the trend is moving up recently. There is a chance that the price will hit the 1.7700 level to fulfil its Gartley pattern run.
Daily Chart
The price forms a symmetrical triangle on this time frame. As the trend is up, there is a high chance that the price will break above the triangle.
4 Hourly Chart
On the 4 hour chart, the price continues to move within a trend channel which is a sign of consolidation after a period of upmove.
Overall Forex Analysis
I will look for LONG trade once the price breaks above the trend channel on the 4 hour chart or triangle on the daily chart.
--- Forex Trading analysis written by Kelvin Lee for Forexpros.
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