Key levels to watch for:
Support: 1.2864; 1.2790;
Resistance: 1.3288; 1.3496.
The dollar rose against other major currencies on Wednesday despite weak US data on sales of existing homes, while sentiment on the dollar strengthened on the eve of the highly anticipated speech of Fed’s governer on Friday. The pair GBP/USD rose by 0.36% to 1.3244, the highest level since August 4.
Key levels to watch for:
Support: 1.2864; 1.2790;
Resistance: 1.3288; 1.3496.
The pound record decline against the dollar on Thursday. British currency ended the three-day growth and thus break of resistance at 1.3288 was postponed. However, the pair tested the level, topped the day at 1.3168 and if the Bulls again prevail, it will be overcome. The session started at a price of 1.3230, while the pound lost 41 pips by the end of the day.
BNP Paribas is short in pounds and wait for 1.24
Short positions in the pound came under pressure in recent weeks after the release of data on retail sales in July in the UK and unemployment figures, that were better than expected. Concerns about the consequences of Brexit began to weaken, analysts say.
However, BNP Paribas remain bearish in pounds. In the short term the bank believe that GBP/USD will move to 1.24. Economists from the French bank continued to expect, that economic activity will decline in the third quarter, even if the economy avoid the worst scenario of Brexit.
On Tuesday released data also supported the outlook for the weakness of the economy: consumer and mortgage loans came out weaker, than expected, analysts say.
The British pound continued to rise against the dollar for the second consecutive session, overcoming its recent narrow range. The pair added 131 pips to a closing price of 1.3266, which was a one-month peak. Consolidation of current levels and confirmed break of 1.3270 will take the GBP/USD higher. Otherwise the price will test 1.3160.
Key levels to watch for:
Support: 1.3160; 1.3050; 1.2910;
Resistance: 1.3270; 1.3365; 1.3480.
Unexpected disappointing NFP led the pair above 1,3270. Currently the pair is trading at 1,3345.
Pound/dollar was up yesterday, breaking above the resistance 1.3370 and topped at 1.3444. Expectations are up for testing key level 1.3500, a clear break above it may not only interrupt the downward phase after Brexit, but also to become an early signal of bullish reversal scenario. Support for the day is seen at 1.3370, whose breach could lead price to neutral trade zone testing 1.3300.
The British pound registered an increase against the US dollar on Tuesday. The pair added 136 pips at a closing price of 1.3437. Price managed to break the first resistance at 1.3355, while daily extremes were reached respectively at 1.3296 and 1.3444. The outlook remains positive and the possible test of the next resistance is at 1.3480.
Key levels to watch for:
Support: 1.3355; 1.3200; 1.3000;
Resistance: 1.3480.
Not sue if this is the right place to post but anyway …
After Brexit vote I panicked and sent all my savings in GBP UK bank to a foreign bank 50K with a 6 % a year fixed .
Now it seems the pound is recovering and wonder should I send it back to the UK . I really need GBP not USD . I know it was a foolish move and Ive lost 5k pounds already .I have little idea about money markets but should I accept my mistake and hold out for a year hoping the pound will lose value to the dollar or get it back into a UK bank now .?
Thank you for your advice .
Its my life savings and my job is low earning so its already a massive blow to me .
Regards
The British pound fell against the dollar on Friday. By the close of US trading GBP/USD was trading at 1.3001, shedding 1.81%. I believe that the support is now located at the level of 1.2998, the minimum of Friday’s trading, and resistance is likely at the level of 1.3351 - Monday’s high.
GBP/USD
The pair rose during yesterday’s session after the price found support at 1.2945 for a second consecutive day. The meeting at the Federal Reserve contributed to increased volatility, which was peaking at 1.3046. Overall pound rose by 42 pips to 1.3028. The pair remains below average values. A break of 1.3070 would open the possibility of a test of 1.3150/60.
The British pound fell against the dollar on Friday. By the close of US trading GBP / USD was trading at 1.2955, shedding 0.92%. I believe that the support is now located at the level of 1.2915, the low of Friday’s trading, and resistance is at the level of 1.3125 - the maximum of Thursday.
The dollar lost gains against the other major currencies on Wednesday after the release of positive data on orders for durable goods in the US, while the markets are still focused on the long-awaited meeting of key oil producers.
GBP/USD is down by 0.09% to 1.3007.
GBP/USD - buy at 1.3014
• Log: 1.3024 (market)
• Stop: 1.2983
• Take profit: 1.3089
• Time for execution: 1 day
Pound/dollar was indecisive yesterday but still managed to keep the bullish intraday signals and hit 1.3057 earlier this morning. Trading signals remain for up to test 1.3100, but I prefer bearish scenario as a whole. Immediate support is seen at 1.3000, a break below could lead the price to neutral trading zone for testing 1.2950/00 but important support remains at 1.2790.
The British pound recorded neutral session against the US dollar on Wednesday. The pair lost only 5 pips at a closing price of 1.3015. If the downward trend continues, most likely the pound will test the first support located at 1.3000. Otherwise, the upside, the pair will test resistance at 1.32000.
On Thursday, the pound fell against USD, despite the publication of upbeat UK data, as the US dollar was supported by comments from yesterday’s Federal Reserve Chairman Janet Yellen.
During European morning trade, the pair GBP/USD reached 1.3002, the session low, and subsequently consolidated at 1.3004, shedding 0.13%.