Aug 012014
 

4XEagleEye Chart

2014.08.01 [ | ] It’s likely that GBPUSD will decline. A break above (1.6938) could be a threat to the bearish scenario targeting (1.7029) even (1.7061). On the downside, immediate support is at (1.6856). Break below that area should keep the major bearish scenario intact testing (1.6781) area Sell on rally for today with a stop loss above (1.6938).

Market Snaphoot 1 Market Snapshots


Summary

Direction

Moving Avg.

Indicators.
Reversal Prob. Oscillator Candle Harmonic
1.6921 1.6955 1.6991 1.7029 1.7061
1.6856 1.6819 1.6781 1.6749 1.6724
Hourly Alerts
Stochastic Overbought 3 hours ago GBPUSD Stochastic (14) main line entered hourly overbought zone. Traders should NOT consider any short term long trades.
Down Trend 6 hours ago GBPUSD is facing a selling pressure pushing it down as long as it remains below (1.6938) any four hours close below (1.6856) will open the way for the instrument to test the next support level. Any four hours bare close above (1.6938) will change instrument`s direction. Traders should consider selling each rally with a stop loss at (1.6938).
Copyrights: FX Eagle Eye is a combined efforts for the JV between letsfx.com and 4XEagleEye.com

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