The British pound recorded a modest rise against the US dollar on Friday. The currency pair started at 1.3192 and the pound recorded a volatile session. The price jumped from the resistance at 1.3260 and the pair finished at 1.3216. Breaking the levels at 1.3260 or 1.3100 will be indicative of prevailing attitudes.
Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;
The GBPUSD may go a little bit higher, but most likely will have difficulties breaking above the 1.3300 level. The 1.3100 level may act like a good support, but on the other hand, the pair may just consolidate for a while between the 1.3200 and the 1.3300 level.
The British pound recorded a volatile session against the US dollar on Monday. The currency pair added 18 pips to a closing price of 1.3233. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the price continues to rise, the pound will focus on the resistance at 1.3260.
GBP/USD is still stuck in the sideways consolidation between 1.3030 and 1.3320. The fundamentals this week may finally end the consolidation but so far there is no signal that will happen.
These are reasonable levels. GBPUSD seems to be ranging AF on H4 for now, probably waiting for some news.
GBP/USD is relatively bullish and it may reach the resistance at 1.3320 yet again soon. It is unlikely that it will break out above it before the fundamentals later today though.
The British pound recorded a significant increase against the US dollar on Wednesday. The currency pair opened at 1.3237 and the price managed to break the first resistance at 1.3260. The pound finished at 1.3323 and in the short term the outlook remains positive, the immediate target is 1.3440.
Gbp/Usd seems has lost it upside momentum, hovering around 1.33 level, break above 1.3360 would send the pair back to its bullish trend. Focus will be on possibility of missing the EU’s deadline over the Brexit divorce bill.
Despite forming a new high at 1.3382 GBP/USD bounced off from that level and formed a shooting star candlestick on the daily time-frame before continuing moving to the downside. If it breaks out below 1.3220 it will probably fall back to 1.3140, which is the (MA)89 indicator on the daily time-frame.
An extremely dynamic session recorded the pound against the dollar on Monday. Despite the volatile trend, however, the opening price was close to closing at 1.3320 and 1.3316, respectively. At first, the moods dominated and the pair reached a peak at 1.3382, breaking the first resistance at 1.3371. Subsequently, the pound totally lost its accumulated positions.
Support: 1.3244; 1.3206;
Resistance: 1.3371; 1.3455;
Sterling had strong spike to the downside against the greenback before the rally to the upside above the 1.3380 price level. My expectation is jump until the 1.3450 resistance level.
The pound recorded a second consecutive volatile session against the dollar on Tuesday. Trading was open at a rate of 1.3316, as in the early hours the bearish sentiment was leading. So the pair broke the first support at 1.3244, after being hit bottom for the day at 1.3221. Subsequently, the trend sharply changed and the final was put in favor of the British currency at 1.3337. If the bullish moods continue, the resistance at 1.3404 will be tested.
Today market on gbpusd, occured bullish strong, and very high volume transaction, this pair has corelation with gbpjpy which also on uptrend for today, maybe occured something on gbp that making this currency very high volume transaction occured.
GBP/USD bounced off from 1.3220 and rallied again, breaking out above 1.3382. The pair will likely continue moving to the upside towards 1.3500.
At the moment I think that the price made a false break through the channel and will return back to the channel and go to the point of 1.33794. However, if it doesn’t return to the channel, the resistance will become support and the price will go up to the point of 1.34859. But on the daily price has been going up for a very long time. So I think that soon it should start to fall.
It wasn’t a false breakout, the pair did continue moving to the upside towards 1.3500. For now it is still very bullish and it will probably continue moving to the upside towards the last high at 1.3655.
GBP/USD found some resistance at 1.3550 and bounced off from that level but the move to the upside towards 1.3655 will probably continue next week.