GBP/USD
Key levels to watch for:
Support: 1.4015; 1.3850; 1.3655;
Resistance: 1.4315;
GBP/USD was hovering around the resistance at 1.42 today but yet unable to conquer it. The pair is showing good upward momentum but bulls will need to break and close above the 1.4189 before regaining this level.
The GBPUSD is getting very close to the 1.4200 level, which could act as resistance, but there is a better resistance at the 1.4300 zone.
GBP/USD dopped below the 1.4300 after having posted a fresh multi-month high at 1.4375 . However the pullback could meet strong support at 1.4244 (late March’s highs) and ex long term resistance that should to keep intact overall bulls. Tomorrow will bring the next key event for the Cable with the release of UK inflation data which could provide fresh direction signal.
GBP/USD recomer some ground, but yet remains capped by the resistance at 1.4244.
Last week Carney said that the uncertainties related to the Brexit could delay rate hikes, the news cause Gbp/Usd very bearish, break below the immediate support at 1.3960 could extend further on the downside.
The pound lost positions against the dollar on Wednesday. Thus the British currency completely deleted the profit recorded in the previous session and the pair tested support at 1.3917. Short-term expectations remain in favor of the dollar. Trade was open at 1.3975, and the final was 1.3927. The trend was of bearish character, and bottom of the day was hit at 1.3923.
GBP/USD
Key levels to watch for:
Support: 1.3917; 1.3888;
Resistance: 1.4096; 1.4200;
Pound / dollar resumed the downward momentum yesterday, reaching a bottom at 1.3922. Signals are bearish in the near future, especially if the price can make a clear break below 1.3917 for testing 1.3850 or lower as part of the bearish correction after the false break above 1.4275. The first resistance is at 1.4000, whose breakthrough may take the price to a neutral trading area, and the direction will become obscure. On downside, a clear break and daily closing below 1.3850 will clear the way to 1.3710 and the trendline support line. This zone is a good place for long positions with narrow stops because a clear break below it will cancel the main bullish views.
Speculation on the BOE won’t raise rates next May will continue to maintain Gbps/Usd strong downward trend. Immediate support can be found at 1.3745, break below will confirm correction movement end and further decline ahead.
The short-term technicals for GBP/USD are neutral to bearish. The pair is trying to bounce from the daily low but yet remains vulnerable below 1.3710.
The British pound recorded a modest decline against the US dollar on Wednesday. The currency pair opened at 1.3613 and the price bounced from the first resistance at 1.3655. Eventually, the pound ended at 1.3571 and if the price went down, there could be a first support test at 1.3460.
GBP/USD
Key levels to watch for:
Support: 1.3460; 1.3300;
Resistance: 1.3655; 1.3850; 1.4015;
Pound/dollar resumed momentum down yesterday, making the bottom at 1.3554. I think the price convincingly breaks the trendline of support, which not only resolves the main bullish trend, but may be a sign of a downward reversal. Expectations remain down for testing at 1.3500 - 1.3460 in a near perspective. Immediate resistance is at 1.3625, whose breakthrough can take the price to a neutral zone for testing of 1.3660. But while the pair remains below 1.3710, I still prefer the bearish scenario and any upward pressure should be considered a good opportunity for short positions.
The pair is lack of directional strength and consolidating on the low. BoE this week and unsettled Brexit strategy within May’s cabinet will probably add more pressure on the pair.
Pound/dollar did not make a substantial move yesterday. Signals remain neutral, but overall I still prefer the bearish scenario at this stage. Intraday support is 1.3480/60. A clear breakthrough and daily closure under it can open the doors to 1.3300. Immediate resistance is 1.3600, whose breakthrough can lead to future upward pressure. But the longer the pair remains below 1.3710, each upward pressure should be seen as a good sales opportunity as part of the bearish scenario following the breakthrough trend line.
The British pound fell only slightly against the US dollar on Wednesday. The currency pair opened at 1.3546 and ended at 1.3545. The pound during the US session reached a peak of 6 days to 1.3606, after which the price dropped to 1.3540. In case the downward movement persists, the pair will focus on support at 1.3458.
GBP/USD
Key levels to watch for:
Support: 1.3458; 1.3300;
Resistance: 1.3710; 1.3931;
The pair is showing very little changes, short-term has no clear directions. Near-term resistance can be found at 1.3617, on the downside, important support lies at 1.3500 and followed by 1.3457.
The pound fell against the dollar on Tuesday. The British currency did not meet the positive expectations and lost positions. So the pair broke the first support at 1.3458, but the final was placed above these levels. The session was opened at 1.3555, and the bearish moods dominated from the start. The bottom of the day was hit at 1.3450 and the closing price was 53 pips higher.