Year 2017 is all about Brexit and will very likely keep Pound still under pressure, upside strength seems limited at 1.2390/80 zone.
GBP/USD rallied immensely after Theresa May’s speech, the next target is likely at 1.2300.
There is uncertainty to the cable as traders ponder what will happen when the UK totally leaves the EU. Especially as the British Prime Minister does not like she intends severing ties with the EU gradually.
Strange. Strengthening of sterling when Teresa announces complete UK split from single market.
So Free or Preferential Trade agreements to replace the single market access; all think tanks point to reduced goods and services trade as a result. Why would that strengthen Sterling.
Doesn’t make sense to me.
It’s likely traders who have been pricing in a Hard Brexit scenario are took profits when their thesis was confirmed and/or a squeeze out of weak hands who might have jumped in short Sterling a little too late. If this was a surprise announcement or rhetoric different than what’s she’s been quoted on saying in the past week or so, then it might have been a different reaction. That’s just my guess.
For now the pair is retracing after the considerable move to the upside yesterday. The closest target is likely around 1.2245, which is the (MA)89 indicator on the four-hour time-frame.
The GBPUSD pulls back down, but it may gain its bullish momentum again. For now the 1.2200 level may act as support and the 55 day EMA at the 1.2372 zone may act as resistance.
The pair bounced off 1.2250 after forming a spinning top candlestick on the four-hour time-frame. Next target is likely 1.2345.
I’ve gone for 1.2360X
Not a bad long, was worth a shot in my opinion. However, it’s risk free now, set and forget.
GBP/USD is testing the support at 1.2250 yet again. A breakout below that support will likely lead to a further drop towards 1.2100.
The GBPUSD is still fighting to break above the 55 day EMA, around the 1.2372 level, but it has not been able to break it to the upside, but a breakout may accelerate the bullish momentum towards the 1.2600 level.
The Pound had a very good week up against all peers on May’s optimism!
That it did, and it’s still very bullish. Next target is likely the resistance at 1.2530, which is the (MA)89 indicator on the daily time-frame.
GBP/USD finally broke above the (MA)89 indicator on the daily time-frame despite the hanging man candlestick it had formed below it on the same time-frame. The move to the upside continues, next target is likely 1.2600 - 1.2620.
looks like the worse is over for the pound, especially now that it has broken above the 1.2600 level versus the dollar. Lets see how high it goes from here.
Had a nice long today from 1.25 to 1.26 - it’s safe to say that playing the peaks and dips is still a sound option.
GBP/USD finally found some resistance at 1.2673 and bounced off that level. For now it’s retracing and its closest target is likely at 1.2530, which is the (MA)89 indicator on the one-hour time-frame.
I’m optimistic about the US dollar.
Good rally on the GBPUSD, but it is stalling at the 1.2670 zone, it may still try to reach the 1.2800 level, which could act as resistance.
GBP/USD could not break below 1.2475 despite the US NFP today. It has formed a spinning top candlestick on the four-hour time-frame above that support and it will likely bounce off of it.