The British pound fell against the US dollar on Tuesday. The currency pair opened at 1.3307 and ended at 1.3249. The pound in the early hours of European trade fell sharply, breaking the level of support at 1.3300, reaching bottom for the day of 1.3204. In the event of a resistance break at 1.3300, we would expect a test at a level of 1.3456.
GBP/USD
Key levels to watch for:
Support: 1.3220;
Resistance: 1.3300; 1.3456;
GBP/USD again dipped below 1.3300 after short correction around 1.3380 today. Bears are eyeing 1.3230 area.
GBP/Usd is trading slightly up before UK PMI figure, found immediate resistance at 1.3375. With the trade war tensions and political uncertainty, the momentum remains directionless.
GBP/USD is losing momnetum. The vulnarable Pound is affected ahead of next Brexit talks and dropped the pair around 1.3400. I expect further declines towards the support at 1.3390.
GBP/USD
Key levels to watch for:
Support: 1.3300;
Resistance: 1.3460; 1.3655; 1.3850;
The British pound recorded a volatile session against the US dollar on Thursday. The currency pair opened at 1.3410 and the price bounced from the first resistance at 1.3465. Eventually, the pound ended at 1.3421 and if the direction continued upward, we could expect a new first resistance test at 1.3465. On the downside, the pair will head to the first support at 1.3310.
Although GBP/Usd is trading above 1.34 level, the upside seems capped at 1.3450 level while market awaits for further Brexit developments this week.
GBP/USD broke the to below the key level 1.3450 and indicators on the four hour time frame are heading lower. Now the pair is unable to keep bullish stance. The current market price is 1.3372 and I think the pair will test soon the first support at 1.3360.
The GBPUSD tries to go back down with its bearish trend, but the pair is currently stuck between the 1.3300 level and the 1.3400 level.
Broad dollar selloff will help Pound to recover. In my view, the outlook for dollar begins to look increasingly bearish
Initially pound / dollar had an ascending momentum yesterday, but then dropped and made the bottom at 1.3256. This fact keeps the bears’ phase strong. Signals are descending in short terms for testing 1.3204 / 00. The closest resistance is at 1.3300, whose breakthrough can take the price to a neutral trading area. Any upward pressure can be seen as a good opportunity for short positions.
Brexit continues to be the main uncertainty in the UK, keep the Pound under pressure. PM still struggles to find common ground on important Brexit issues. This week focus on EU withdrawal bill debate and BoE interest rate decision.
In the early London session the GBP/USD pair hit a fresh 2018 low at 1.3145, few pips below the current market price. The bearish pressure remains high and a downward acceleration through this point will serve the 1.3000 zone as next bearish target.
Next week is not full of trend-changing events. So I say, let’s trade GBP/USD in range.
The pair is trading almost flat while Brexit negotiation continues going nowhere. The uncertainty is becoming the nature of Brexit negotiation, it continues to give Pound pressure, bearish potential possible targeting 1.30 level.
GBP/USD gained traction and conquered the 1.3200 handle. Now doors are opened for testing 1.3225-1.3230 area.
Dollar strength and uncertainty of Brexit continue to give pressure to GBP/Usd. Some big company like BMW and Airbus has said they would consider leaving the UK if ‘‘no deal’’ in recent weeks. Let’s focus on further Brexit development this week.
The UK PMI boosted the Sterling today and the USD/GBP pair is trading higher. Bulls conquered the 1.3200 level and now are aiming the 1.3300 handle.
The British pound recorded a modest rise against the US dollar on Wednesday. The session started at 1.3189 and the price managed to break the first resistance at 1.3200. Eventually, the pair ended at 1.3225 and if the bullish trend continues, we can expect an attempt to break the next resistance at 1.3300.