Can you imagine the trend of gbpusd the next days?
Yes, its easy to imagine, just look at a chart better then a crystal ball!
After PMI data, GBPUSD tried to touch the resistence 1.51
It is down now.
It shows, I believe how the down trend is strong!
It will try the support at 1.4985 or 1.4990
I would invest downtrend.
I hope you to do your best
Thank you Napier, the pair indeed went down by an incredible amount due to the PMI. I have indeed invested downtrend. Again thanks for the help. Also this article helped me a whole lot: Cable drops after Manufacturing PMI failed to produce resultsAtoZ Forex I am sure it will help out others out here as well.
I don’t know if this will help, but this is a summary of my view for GBPUSD in 2015. We had a very sharp move to the downside as you see on the chart (funnily enough the chart is almost identical to crude oil’s)
We will see a retracement towards the blue rectangle area before we create a new low. That’s its journey for 2015 in my opinion.
As for a more immediate trade in GBPUSD, I think there isn’t one at the moment. GBP is doing well in terms of data but no one is willing to buy it yet because BOE was clear they won’t hike rate. On the other hand US data in 2015 have been horrible and so there is no reason to buy USD either.
Its once that sentiment changes that we’ll be able to find a trade in the pair. I’m betting it will be a cable long, but I’m not committing to it just yet.
My appreciation for sharing you insights on the pair; Philip. It has indeed helped me to alter my game plan for the coming period. Such an interesting remark about the relatively comparable trend with the crude oil, I did not make this link before. Based on your recommendations and of course, what I have speculated myself on the market, it is indeed wiser to refrain from immediate trade on the mentioned pairs. I read this morning an intersting article with statement of trend directions, maybe it will provide you some help as it did me for making my final decisions. GBPUSD continues to seek support at 1.5000AtoZ Forex
We’d better go on sharing information here…
After writing my idea, I applied. I had a position down and after taking profit it goes up!
Now. 1.5270 is the resistence.
To say it is the end of the down trend, it must be closed 3 or 4 times higher than 1.5264.
On the other hand, the support is 1.5180
Good luck!
( I hope you all to keep going on sharing prediction, strategy etc here about gbp/usd )
You have got my approval, let’s rock it and share information and predictions here. I was thinking that there would not be any uptrend post the BOE statement release. But now it has already broken that level, as it is now at 1.5306. I am going to take on the advice made in the article and lookt at 1.5500.
I will say down trend in this time. But uptrend is not a week probability.
support 1.53 and then 1.5260.
Resistence 1.5480
We will see data from USD. It was good in last two months. (I can not translate into Eng. but I hope you will got what I mean. data about agriculture).
Yeah I got what you mean. Regarding with gbpusd prediction you can see also 09 February: GBPUSD weekly outlook | AtoZ where GBPUSD lost its short-term bullish momentum after positive NFP results of 257K were announced
My prediction was correct on friday. But i can not see where to go this week. Probably up!
Now i will read what you have shared. Thanks a lot!
For this week there are 2 main releases that will create volatility; FOMC meeting and UK Claimant Count Change. I expect exhaustion, even though it is now at 1.5479, there is a change for a plunge back towards 1.5000
The inflation numbers out of the UK during this week may determine the trend for the GBPUSD. Up to now, the pair has found a good resistance on the 1.5400 area.
I am considering an engage in a long trade with the first profit-taking level at 1.5433.
Hi, I am rather trading with technical analysis than with fundamental, but long term from a techNical point of view, it’up as it is bouncing from a level it always bounced from (Sunday February 22nd 2015),
Thanks…
I dislike investing when moving average is horizontal
Yes it’s a range. But when you got a range on the monthly, to enter on the range S/R is a fantastic risk to ratio trade. And on smaller times frame (H4 here), the SMAs are starting to turn bullish.
The pair has been creeping slowly up but still there is a very feeble chances of it getting higher, the situation is confusing till now.
Yeap. Testing hard the support at 1,5325 and on H4 we are starting to make lower high and lower low.
Pound continues to fall after a weaker-than-expected Service PMI data. After initially finding resistance at 80 EMA, candles now break and hold below 20 SMA, indicating a strong bearish trend. AtoZ Forex