The pound registered a slight increase against the dollar on Wednesday. The British currency broke off the negative trend of the day before, but a key breakthrough was not reached. If the Bears will win again, the first support at 1.2930 will be tested. The session was opened at a rate of 1.2990 and the closing price was 1.3003. The trend was volatile, as the peak of the day was reached at 1.3027.
Key levels to watch for:
Support: 1.2930; 1.2853;
Resistance: 1.3278;
Nice 20 pip stop hunt reversal @ 8:30am on all USD crosses 2 days in a row now, that’ll pay for the LP’s exclusive club lunches…
Here’s a simple man’s approach. I don’t know where the GBP/USD is going, I just react if there’s a good trend. Right now there’s a good uptrend so I am long. When price stops going up, I’ll stop being long.
But I cannot sell while price and the 50EMA are above the 200EMA, and the 50 is sloping upwards.
I feel that the trend is going to be downwards, but it’s obvious that there is no certainty, so that’s what we need to watch it carefully. I will certainly like to go for short trade, but we need to be absolutely careful with how we go about handling things. If we follow the trend carefully then we will be able to work it out well and will be able to gain nicely too.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.3009, gaining 0.24%. I believe that support is now at around 1.2940, the low of Friday’s trading, and the resistance was likely to come in at 1.3063, Monday’s high.
Gbp/Usd is consolidating around 1.30 level, showing no clear directional strength. Focus turn to UK inflation data next week.
The British pound recorded a decline against the US dollar on Monday. The session began at 1.2998 and ended 35 pips lower. Daily extreme values were reached at 1.3021 and 1.2956 respectively. The currency pair remains at risk of further decline, with the target at 1.2700. For a change in direction, a break of 1.3090 will be needed.
The British pound recorded a significant decline against the US dollar on Tuesday. The session began at 1.2963 and ended at 1.2868. Graphics continued to grow below moving averages, while the RSI remained in the resale area. If the bearish trend keeps, the pair will head to the first support at 1.2700.
The British pound recorded a modest decline against the US dollar on Thursday. The session began at 1.2890 and ended 23 pips lower. Graphics continued to grow below moving averages, while the relative strength index remained neutral. If the direction goes down, the target will be the first support at 1.2700.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2878, gaining 0.08%. I believe that support is now at around 1.2832, the low of Friday’s trading, and the resistance is likely at 1.3024, Monday’s high.
The pound/dollar currency pair registered a volatile session on Friday. The session started at 1.2867 and finished 8 pips higher. During the day the support at 1.2860 was broken, and it was enough for the bears to score at 1.2831. Peak for the day was reached at 1.2915.
The pound rose by 34 pips against the US dollar on Monday. The session was opened at 1.2864, and the last day’s quote was 1.2898. During the day, the support at the 1.2860 level broke down, with the bears recording lows at 1.2849. Bulls peaked at 1.2915.
The dollar took 76 pounds of pound assets during trading on Tuesday. The session started at 1.2898, and the bulls prevailed over the bears only in the first four hours, reaching a peak of 1.2908. From that moment of the day, bear players dominated the market and led the course to the bottom at 1.2810 after the support was broken at 1.2860. At the end of the day, the currency pair was 1.2822.
The GBPUSD most likely will continue lower below the 1.2800 level. The 1.2700 or the 1.2600 levels may act as supports. But if the pair goes back up, the 1.2900 may act as resistance.
Brexit negotiations are showing ‘‘no progress’’, so does Pound. The pair is consolidating around 1.2950/60, no clear directional strength.
While the pair maintains strong upward momentum, rising to resistance level at 1.3225, the lack of progress on Brexit talking could hold back the gains this week.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3590, gaining 1.44%. I believe that support is now at 1.3159, Monday’s low, and resistance is likely at 1.3616, the high of Friday’s trading.
Pound hit the highest since Brexit talk started, found resistance around 1.3615/1.3620 zone. I’m expecting consolidation in the beginning of the week before the pair uptrend extend further.
Key levels to watch for:
Support: 1.3093; 1.3030;
Resistance: 1.3935.