Learning Trade Forex

Pound-Dollar Technical Analysis 14 November 2009

Monthly Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: Middle
Overall Sentiment: Bullish

Weekly Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: UPPER BAND
Overall Sentiment: Bullish

Daily Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: UPPER Band
Overall Sentiment Bullish.

Using the combination of 3 indicators (MACD, Slow Stochastic, and Bollinger Band), we can see that the GBP-USD is highly bullish. There is a possibility of big breakout upside which may break the resistant level 1.6692 to go all the way up to 1.7500. This analysis based on long-term market movement.

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