Key levels to watch for:
Support: 1.2408; 1.2252;
Resistance: 1.2672; 1.2775.
Pound/dollar had a bearish momentum yesterday, bottomed at 1.2465. The bias is bearish for now to test 1.2500 - 1.2465. Overall, however, the price is still in bullish phase after the bounce from 1.2000 psychological level and any downside pullback should be seen as a good opportunity for long positions with targets near 1.2790.
Pound/Dollar attempted to push lower yesterday, formed a bottom at 1.2346, but turned up and closed higher at 1.2507. The bias is neutral, possibly with slight bullish signals for testing 1.2600. Intraday support is at 1.2450, whose breakthrough could lead to downward pressure on testing 1.2400 - 1.2350. Overall I remain neutral.
The pound continued upwards momentum and managed to add another 31 pips against the dollar. The day was volatile. The price by opening of session was 1.2507, as in the morning had bottomed at a rate of 1.2474. There were four strong bullish hours and a high at 1.2549. Ultimately session ended in the red for the dollar at a price of 1.2538 dollars per pound.
Key levels to watch for:
Support: 1.2420; 1.2120;
Resistance: 1.2558; 1.2690.
The British pound fell against the dollar on Friday. By the closing of US trading GBP/USD was trading at 1.24849, shedding 0.06%. I believe that the support is now located at the level of 1.2344, Tuesdayâs low, and resistance is likely at the level of 1.2585 - maximum of Thursday.
We have seen a Bullish Pin bar at Feb 07 from support 1.2415 (high of January 17), and I believe next Resistant is .26734 (the high of Nov11,2016)
(Notice: My broker is Hanseatic Broker, your broker should have different price, you should match the date to find your price)
Between President Trumpâs âphenomenalâ tax reform promise and much better-than-expected data from the UK last week, the pair bounced around 1.2500 level with downside seems limited to 1.2430.
Couldnât agree more. But I would say to trade pound crosses (with majors) like GBPCHF, GBPJPY .
and my most favorite is EURGBP since few weeks. I am running 2 short positions (4% risk 10% probable gain)
(Note: You should update according to your Broker chart)
Key levels to watch for:
Support: 1.2360; 1.2150;
Resistance: 1.2516; 1.2700.
The British pound fell against the dollar on Friday. By the closing of US trading GBP/USD was trading at 1.2410, shedding 0.64%. I believe that the support is now located at the level of 1.2379, Wednesdayâs low and resistance is likely at the level of 1.2550 - a maximum of Tuesday.
Next week there will be FOMC minutes, so pound may continue falling to 1.2346, followed by 1.2252.
1.2346 is level to confirm new bearish trend towards 1.2300 level.
Pound/Dollar had a moderate bullish momentum yesterday, topped at 1.2482. The bias is neutral in nearest term. Immediate resistance is seen at 1.2520. A clear break above that area could trigger further bullish pressure to test 1.2580. On the downside, first support is 1.2435. A clear break below could lead to bearish pressure testing 1.2380/40.
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The pound recorded a sharp rise against the dollar on Thursday. British currency acquitted positive expectations and recorded substantial progress against the dollar. So the pound offset losses and get out of the narrow range in which varied past few sessions. Meanwhile, resistance at 1.2524 has been overcome and if bullish sentiment continues, the pair will test the level at 1.2576.
Key levels to watch for:
Support: 1.2382; 1.2345;
Resistance: 1.2524; 1.2576.
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On Tuesday, trading in Europe is relatively quiet. In anticipation of the Presidentâs speech the United States, major currency pairs traded in limited price ranges.
GBP/USD is consolidating in the range 1,2412-1,2450. The mood against the pair remains negative due to the growth of EUR/GBP. It will change in a positive way, if there is a break above 1.2452. Increasing the price above this level could provide a fresh impetus for a breakthrough to 1.2480.
The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
The pair GBP/USD fell by 0.32% to a minimum of six weeks at 1.2226.
On Friday, the dollar fell against other major currencies. Traders continued to take profits after a recent rise in price of the dollar to a maximum of seven weeks. However, the depreciation of the dollar is limited because of the increasing likelihood of higher interest rates in the US this month.
The pair GBP/USD fell by 0.29% to a minimum of six weeks of 1.2230 after a research of group Markit said that last month the index of business activity in the manufacturing sector (PMI) fell to the UK five-month low of 53.3 against the values 54.5 in January. Analysts had expected in February to reduce this figure to 54.1. Later the pair rose to 1.2297.
Key levels to watch for:
Support: 1.2220; 1.2120; 1.1627;
Resistance: 1.2420; 1.2558; 1.2690;