📶 Forex Trading Signals: The British Pound (GBP) against other Majors and EURUSD

In this TCI analysis, we will examine the British Pound (GBP) against other major currencies. Recently, the British Pound has performed strongly against all majors. Before presenting the current TCI results, let’s review our previous TCI signal on EURUSD.

In our previous TCI trading signal, we forecasted an upward trend for EURUSD. Specifically, we stated, “Based on TCI results, EURUSD is trading at oversold levels and will likely correct upwards early in the week ahead.”

At that time, EURUSD was trading at 1.34864. Today, EURUSD stands at 1.36929, confirming the TCI signal. Below, you will find what TCI forecasts for EURUSD over the coming weeks.

💱 The British Pound against Forex Majors

As mentioned, the British Pound has been a strong performer lately, but this rapid rise means it may now be technically overbought. The most likely scenario is a short-term correction for GBP. However, note that GBPUSD is currently at a key resistance level. If the British Pound manages to break through this resistance, a strong continuation of the trend could follow. Let’s examine what lies ahead for GBPUSD and EURGBP using the TradingCenter Indicator (TCI).

⚙️ TCI on GBPUSD -The British Pound against the US Dollar

• Currently: 1.67463

• TCI Forecast: POSSIBLE CORRECTING DOWNTREND FOLLOWED BY CONTINUATION

The following table shows the TCI results for GBPUSD over the coming calendar month.

 Chart: The British Pound against the US Dollar

EURGBP  – The Euro against the British Pound

• Currently: 0.81753

• TCI Forecast: POSSIBLE UPWARD CORRECTION

■ George Protonotarios, Financial Analyst

Free TCI Forex Trading Signals, Trading Center.org (February 16th, 2014)

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