GBP/USD is, indeed, bullish and it will likely continue climbing next week. That said, for a further rally above the sideways consolidation to be confirmed it will have to break out above the last high at 1.3337.
Gbp/Usd reacted on the news that 40 members of the PM’s Conservative party signing a letter of no confidence in Theresa May’s leadership, opened the week with bearish gap and drop to around 1.3120 level. I’m expecting further decline on Pound.
GBP/USD hit for another time the uptrend line and is expected a rebound and a retracement to the upside. However, in case of a bearish move will touch the 1.2985 support level.
This pair is flip-flopping like a landed Dover sole. There are other fish in the sea.
The pound lost positions against the dollar on Monday. The British currency interrupted the positive impulse from Friday and collapsed. As a result, support at 1.3071 was broken. Short-term expectations remain in favor of the dollar. The session was opened at lower levels compared to the end of last week, with the trend predominantly bearish. After the bottom of the day was hit at 1.3061 the direction was changed and the final was set at a rate of 1.3114.
Key levels to watch for:
Support: 1.3071; 1.3024;
Resistance: 1.3279; 1.3334;
The pound recorded a positive session against the dollar on Thursday. The British currency continued the bullish trend since Tuesday, but a key breakthrough was not reached. Trading was open at 1.3170 and the final was 23 pips higher. The session was extremely volatile, with the difference between the highest and the lowest for the day being 71 pips.
Gbpusd on friday, has figure out bullish trend but on retracement pressure, look on daily timeframe today occur pinbar candle, but should carefully because on friday market sometime so many false signal occured, not all pinbar as valid signal
Gbp/Usd continue ranging between 1.302 and 1.325 with limited upward strength. The market continue to focus on Brexit.
The British pound recorded a modest rise against the US dollar on Friday. The currency pair started at 1.3192 and the pound recorded a volatile session. The price jumped from the resistance at 1.3260 and the pair finished at 1.3216. Breaking the levels at 1.3260 or 1.3100 will be indicative of prevailing attitudes.
Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;
The GBPUSD may go a little bit higher, but most likely will have difficulties breaking above the 1.3300 level. The 1.3100 level may act like a good support, but on the other hand, the pair may just consolidate for a while between the 1.3200 and the 1.3300 level.
The British pound recorded a volatile session against the US dollar on Monday. The currency pair added 18 pips to a closing price of 1.3233. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the price continues to rise, the pound will focus on the resistance at 1.3260.
GBP/USD is still stuck in the sideways consolidation between 1.3030 and 1.3320. The fundamentals this week may finally end the consolidation but so far there is no signal that will happen.
These are reasonable levels. GBPUSD seems to be ranging AF on H4 for now, probably waiting for some news.
GBP/USD is relatively bullish and it may reach the resistance at 1.3320 yet again soon. It is unlikely that it will break out above it before the fundamentals later today though.
The British pound recorded a significant increase against the US dollar on Wednesday. The currency pair opened at 1.3237 and the price managed to break the first resistance at 1.3260. The pound finished at 1.3323 and in the short term the outlook remains positive, the immediate target is 1.3440.
Gbp/Usd seems has lost it upside momentum, hovering around 1.33 level, break above 1.3360 would send the pair back to its bullish trend. Focus will be on possibility of missing the EU’s deadline over the Brexit divorce bill.
Despite forming a new high at 1.3382 GBP/USD bounced off from that level and formed a shooting star candlestick on the daily time-frame before continuing moving to the downside. If it breaks out below 1.3220 it will probably fall back to 1.3140, which is the (MA)89 indicator on the daily time-frame.
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