Forex Trading Signals: The British Pound (GBP) against other Majors and EURUSD
In this TCI analysis, we are going to investigate the British Pound (GBP) against other major currencies. The British Pound has proved a great performer lately against all majors. But before presenting the current TCI results we are going to evaluate our previous TCI signal on EURUSD.
In our previous TCI trading signal, we have forecasted a EURUSD upward trend. More specifically we have stated, “Based on TCI results, EURUSD is basically trading in oversold levels and it will probably correct upwards early in the week ahead”.
By that time EURUSD was trading 1.34864. Today EURUSD is found at 1.36929, and the TCI signal has been confirmed. Below you may find information about what TCI forecasts EURUSD for the next weeks.
The British Pound against Forex Majors
As mentioned before, the British Pound has proved a great performer lately, but that good GBP performance has to be achieved very fast and consequently, the British Pound may be considered as technically overbought. The most probable scenario is that GBP will face a short-term correction, but be aware that the British Pound against the US Dollar is found today in a very important resistance level. If the British Pound proves capable of overcoming that resistance then we may witness a strong trend continuation. Let’s see what happens next as concerns GBPUSD, EURGBP, GBPCAD, GBPAUD and EURUSD using the TradingCenter Indicator (TCI).
GBPUSD –The British Pound against the US Dollar
Currently: 1.67463
TCI Forecast: POSSIBLE CORRECTING DOWNTREND / THEN CONTINUATION
The following table consists of the TCI results as concerns GBPUSD for the following calendar month.
Date | Close | Change (%) | High | Low | Volatility | TCI |
2014.02.03 | 1.63074 | -0.77% | 1.64402 | 1.62894 | 0.9% | -0.83% |
2014.02.04 | 1.63241 | 0.10% | 1.63438 | 1.6256 | 0.5% | -0.50% |
2014.02.05 | 1.63083 | -0.10% | 1.63404 | 1.62515 | 0.5% | -0.31% |
2014.02.06 | 1.63211 | 0.08% | 1.6348 | 1.62721 | 0.5% | -0.53% |
2014.02.07 | 1.64057 | 0.52% | 1.64173 | 1.62994 | 0.7% | 0.39% |
2014.02.10 | 1.64022 | -0.02% | 1.6427 | 1.63827 | 0.3% | 0.56% |
2014.02.11 | 1.64468 | 0.27% | 1.64868 | 1.63915 | 0.6% | 0.97% |
2014.02.12 | 1.65951 | 0.90% | 1.6599 | 1.64253 | 1.1% | 2.66% |
2014.02.13 | 1.66561 | 0.37% | 1.66728 | 1.65907 | 0.5% | 3.18% |
2014.02.14 | 1.67463 | 0.54% | 1.6755 | 1.66437 | 0.7% | 3.78% |
(+1 Trading Days) February, Monday 17th +POSSIBLE DOWNTREND+ | 3.53% | |||||
(+2 Trading Days) February, 18th | 3.18% | |||||
(+3 Trading Days) February,19th | 3.17% | |||||
(+4 Trading Days) February, 20th | 3.13% | |||||
(+5 Trading Days) February, 21st | 2.73% | |||||
(+6 Trading Days) February, Monday, 24th | 2.97% | |||||
(+7 Trading Days) February, 25th | 2.50% | |||||
(+8 Trading Days) February, 26th | 2.22% | |||||
(+9 Trading Days) February, 27th | 2.17% | |||||
(+10 Trading Days) February, 28th | 2.58% | |||||
(+11 Trading Days) March, Monday 3nd | 2.31% | |||||
(+12 Trading Days) March 4th | 2.70% | |||||
(+13 Trading Days) March 5th | 2.54% | |||||
(+14 Trading Days) March 6th | 2.30% | |||||
(+15 Trading Days) March 7th | 2.23% | |||||
(+16 Trading Days) March Monday 10th | 1.84% | |||||
(+17 Trading Days) March 11th | 1.50% | |||||
(+18 Trading Days) March 12th | 1.18% | |||||
(+19 Trading Days) March 13th | 1.42% | |||||
(+20 Trading Days) March 14th | 0.92% |
EURGBP The Euro against the British Pound
Currently: 0.81753
TCI Forecast: POSSIBLE UPWARDS CORRECTION
The following table consists of the TCI results as concerns EURGBP for the following calendar month.
■ George Protonotarios, Financial Analyst
Free TCI Forex Trading Signals, Trading Center.org (February, 16th 2014)
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