GBP/USD likely direction

The British pound recorded a volatile session against the US dollar on Monday. The currency pair started at 1.2992 and the pound registered a positive performance. Eventually, the currency pair ended at 1.3027 and if the upward trend continues, we can expect a break in the first resistance at 1.3090.

Key levels to watch for:
Support: 1.2700; 1.2516; 1.2360;
Resistance: 1.3090; 1.3270.

The British pound recorded a volatile session against the US dollar on Tuesday. The currency pair opened at 1.3027 and finished just 4 pips lower. Graphics continued to grow above the creeping averages, while the relative strength index remained neutral. If the bullish trend keeps the pair will focus on the resistance at 1.3090.

The British pound record also recorded a significant increase against the US dollar on Wednesday. The currency pair added 97 pips and the pound managed to break the first resistance at 1.0390. Daytime extreme values ​​were reached at 1.3000 and 1.3123 respectively. If the price continues to rise, we can expect a resistance test at 1.3270.

Key levels to watch for:
Support: 1.3090; 1.2700; 1.2516;
Resistance: 1.3270.

The British pound also recorded a decline against the US dollar on Thursday. Session started at 1.3120 and the pound lost 56 pips. Graphics continued to grow above the creeping averages, while the relative strength index remained neutral. Establishing the pair above 1.3090 will be indicative of the interest of the bulls, whose next target is the resistance at 1.3270.

The dollar pulled 84 pips out of the pound. At the beginning of the day one British pound was exchanged for $ 1.3198, and the course headed for resistance at 1.3250. By noon the bulls managed to break through and peaked at 1.3265, but three hours later the bears took their bottom at 1.3112. The last quotation for the day was 1.3137.

Support: 1.3030; 1.2860; 1.2690;
Resistance: 1.3250; 1.3380.

Pound / dollar made a downward movement yesterday with a bottom of 1.3112. Short-term expectations are downward, support 1.3125 - 1.3075 is a good place to place purchases.

Pound / dollar was indecisive yesterday. Expectations remain bearish in the short term to test the 1.2930 - 1.2865 zone as part of the downstream phase after the breakthrough under the trendline support line. Resistance for the day is 1.3028 (yesterday’s peak). A clear break above this level could take the price to a neutral zone with testing at 1.3075 - 1.3125. Generally, I am neutral on this pair, but a clear break above 1.3125 should re-activate the upward model.

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.