The lack of a clear Brexit strategy continue drive the pair down, limited upward correction movements while Gbp/Usd is still holding above 1.3000 psychological handle.
The pound marked a second successive session against the dollar on Tuesday. The British currency has continued the positive momentum since the beginning of the week, but no breakthrough of key levels has been achieved. Short-term expectations continue to be in favor of the pound. Trading was open at a rate of 1.3140 and the final was 62 pips higher. The trend was bullish in most of the time, with the peak reached at 1.3225.
Key levels to watch for:
Support: 1.3014; 1.2955;
Resistance: 1.3290; 1.3326;
The GBP / USD continued its bullish momentum yesterday, reaching a peak of 1.3225, with the market respecting the daily EMA 200 and the trendline support line. Short-term expectations are bullish to test the resistance 1.3330. A clear breakthrough and daily closing over it will put an end to the downward correction phase and will re-activate my bullish model for retesting 1.3615. Support for the day is 1.3150, whose breakthrough should keep the bearish phase in force for testing the daily EMA 200 and the trendline support.
GBP/USD has been consolidating sideways between 1.3170 – 1.3220 since yesterday. It depends on the news later today whether it will break out above 1.3220 to reach at least 1.3250.
Pound / dollar was tentative yesterday, but mainly continues to trade higher and hit a new weekly peak at 1.3264 earlier today. Trade signals remain bullish for testing the key resistance 1.3330. A clear break and daily closing above this level will put an end to the downward correction phase and will re-activate my upward model for retesting 1.3615. The nearest support is at 1.3150. A clear breakthrough and daily closure below this level should keep the bearish phase intact for testing the daily EMA 200 and the trendline support. Generally, I stay in the bulls camp.
GBP/USD is testing the resistance at 1.3300, which coincides with the (MA)89 indicator on the weekly time-frame. If it breaks out above that level there will likely be a further move to the upside towards 1.3500 - 1.3520.
Risk remains on the upside, Gbp/Usd consolidate just below 1.3300 level. This week all focus on the EU summit and Theresa May’s ‘emergency’ trip to Brussels on Monday.
The British pound recorded an increase against the US dollar on Friday. The session started at 1.3260 and the currency pair jumped out of the support at 1.3260. Eventually the session ended at 1.3287 and in case the bullish moods of the last few sessions continue, we can expect a break of the first resistance at 1.3440.
Key levels to watch for:
Support: 1.3260; 1.3100;
Resistance: 1.3440; 1.3600;
Pound / dollar gained momentum over the past week, forming a peak of 1.3337 after three consecutive descending candles per weekly chart. Expectations are neutral, probably with light bears signals, as we have a downward pin bar after the rejection of the resistance above 1.3330 for the 1.3225 test. Basically I stay in the bear camp, but I need a clear break above 1.3330 to re-activate my bullish model for retesting 1.3615.
GBP/USD bounced off from 1.3340 and is currently testing the support at 1.3155. A breakout below that level will likely lead to a drop towards 1.3090, which is the (MA)89 indicator on the daily time-frame. On the other hand, if it bounces off from 1.3155 it could rally back to 1.3250.
The British pound recorded a modest rise against the US dollar on Wednesday. The session started at 1.3188 and the pair added 16 pips. Graphics continued to grow below moving averages, while the relative strength index remained neutral. Attitudes remain positive, with more serious testing than the current 1.3260.
GBP/USD bounced off yet again from the (MA)89 indicator on the daily time-frame at 1.3090. That said, it’s doubtful it will break out above 1.3200 before the market closes for this week.
Gbp/Usd is neutral around 1.3180/90, showing no clear directional strength for now. Market continue to focus on any further Brexit development and we have UK GDP this week too.
GBP/USD broke out above 1.3200 and continues moving to the upside. Next target is likely the previous high at 1.3328. A breakout above that level could lead to a further move to the upside towards 1.3400.
GBP/USD has a strong upward rally and jumped above 1.3230 following the bounce off the 100 daily SMA.
The British pound fell against the dollar: the pair GBP/USD dropped by 0.14% to 1.3245. Investors are fixing profits after the increase on Wednesday. On Wednesday, the British pound rose in price by 1% after the release of the report on the acceleration of GDP growth in the UK in the third quarter, which increased the chances of raising the interest rate by the Bank of England next month.
Brexit talks continue to be in centre stage, Theresa May under pressure to leave EU with no deal. Pound is consolidating in the negative territory just above 1.31 level, showing no clear directional strength for now.
GBP/USD is posting the second positive day and runs towards 1.3280 and 23.6% Fibonacci retracement level (low at 1.2110 and high at 1.3655).