GBP/USD likely direction

The British pound recorded a decline against the US dollar on Tuesday. The pair lost 38 pips at a closing price of 1.2197. Daily extreme values ​​were reached respectively at 1.2251 and 1.2168. Bearish sentiment retain its dominance at present, as confirmed break of 1.2150 will enable the continuing decline.

Key levels to watch for:
Support: 1.2150;
Resistance: 1.2360; 1.2516; 1.2700.

The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2170, gaining 0.04%. I believe that support is now at 1.2134, Thursday’s low, and resistance is likely at 1.2302, Monday’s high.

The pound gained ground against the dollar on Wednesday. So the British currency fully recovered losses from the previous session and walked out of the narrow range in which was trading lately. Meanwhile, resistance at 1.2303 was breached and if the positive sentiment continued level at 1.2360 is also threatened. Trade was opened at a price of 1.2154 and closing rate was 1.2288. The trend was bullish of all time, peak was reached at 1.2308.

Key levels to watch for:
Support: 1.2108; 1.2037;
Resistance: 1.2303; 1.2360.

The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.2396, gaining 0.31%. I believe that support is now at around 1,2106, Tuesday’s low, and resistance is likely at 1.2405, the high of Friday’s trading.

Last week’s strengthening of the pound led the GBP / USD to 1.2400, which is just slightly below the simple moving averages for 50 and 100 days. The gain may slow next week, but if GBP / USD breaks above 1.2400 on Monday, it may reach 1.25.

I agree, the pair is still holding well within positive territory while it has temporarily lost its upward strength, bouncing around 1.238 level. 1.2400 level act as important resistance level.

Yesterday the dollar lost 114 pips against the British pound. Opening rate of the day was 1.2358, and the day began with a slight preponderance of bulls before the bears to take the bottom level of 1.2340. This forced bull market players and in the next hour first resistance level of 1.2420 was breached. High of the day was recorded at exchange rate 1.2494. At the end of session one British pound was traded for 1.2472 dollars.

Support: 1.2420; 1.2290; 1.2120;
Resistance: 1.2558; 1.2690.

Pound/dollar had a bullish momentum yesterday, formed a peak of 1.2493. Commercial bias remains bullish for now to test 1.2570 as part of the bullish scenario after the rebound of a triple bottom near 1.2135/08. Intraday support at 1.2440 is seen. A clear break below that could bring price to neutral zone for testing 1.2390. The longer, however, the price holds above 1.2300, I prefer bullish scenario at this stage, and any downside pullback should be seen as a good opportunity to buy.

GBP/USD registered a volatile session on Wednesday. The pound has won 6 pips to an asset. The opening rate was 1.2473 and during the day there were numerous fluctuations in the currency pair. In the first hours of the new day, there was a slight majority of the bulls and they successfully took a peak at a level of 1.2505. There was awakening in bearish players and consequently the course reached the bottom at a rate of 1.2423 or just 3 pips from the first support. Eventually a British pound was worth 1.2479 against the US dollar.

Gbp/Usd pushed higher towards 1.2530 level in response to Dollar weakness but still within the range, a break above 1.2530 level would lead to 1.2569/70 zone.

The British pound registered a volatile session against the dollar on Wednesday. The pair opened at 1.2448 and ended at 1.2432. The graphics continue to develop between moving average, while the index of relative strength remained on neutral territory. In the short term outlook remains neutral as overcoming the levels at 1.2516 or 1.2360 will determine prevailing attitudes.

Key levels to watch for:
Support: 1.2360; 1.2150;
Resistance: 1.2516; 1.2700.

Pound/Dollar tried to lift up in the end of the week, topped at 1.2539. Overall price is still in the downward phase after break below the bullish price channel, but has not yet managed to stay convincingly below EMA 200 and moves in the minor ascending channel. The outlook is neutral for now, perhaps with slight bullish signals for testing 1.2550. The nearest support is at 1.2475. A clear break below that area could trigger further downside pressure testing a key support 1.2375, which needs to be clearly pierced down for the continuation of the bearish scenario.

The British pound was up against the US dollar on Friday. By the close of the US trading, GBP/USD is trading at 1.2550, gaining 0.65%. I believe that support is now at 1.2375, the minimum of Wednesday, and the resistance is likely to come in at 1.2618, the maximum of Monday.

The pound recorded a second consecutive loss against the dollar on Tuesday. The British currency continued negative momentum from the beginning of the week, but the decrease was not significant. If the bearish sentiment, however, become more intensive, the support at 1.2329 will be overcome soon. The session started at a price of 1.2484, while the pound lost 46 pips to the finish. The trend was volatile but ultimately the downward direction prevailed and the pair hit bottom at 1.2418.

Key levels to watch for:
Support: 1.2329; 1.2211;
Resistance: 1.2674; 1.2725.

The British pound was down against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2367, losing 0.82%. I believe that support is now at 1.2367, the low of Friday’s trading, and the resistance is likely at 1.2556, Monday’s high.