GBP/USD: I’m opening a short position with target: 1.2950, SL: 1.3020.
Unfortunately, my SL has triggered. Waiting for better levels to open a short position.
GBP/USD: The current level - between 1.3070 and 1.3080 is a good support/resistance level. Let’s see how the week will begin.
So it bounced up from the above mentioned area. The next best is 1.3170.
The rally continues on the GBPUSD and the pair may get to the 200 day EMA around the 1.3300 level where we can also find the 55 week EMA.
My expectations for GBP/USD are up for testing 1.3215/50.
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The bullish correction may continue on the GBPUSD but for now it is very undecided and the pair could retrace to the 55 day EMA around the 1.3000 level. To the upside, the confluence zone where we can find the 200 day EMA and the 55 day EMA around the 1.3300 level may act as resistance.
GBP/USD: 1.3220 is a good historical resistance from mid-July. If the pair manages to break it, the next level is 1.3300. On the flip side, 1.3050 is the next support level (end of August), followed by 1.2920.
Sharp rise, followed by even sharper drop in GBP/USD. The price bounced down from 1.3300 and if the pair manages to break the strong support 1.3070, the next level is 1.3000, then 1.2910.
GBP/USD: Judging by the close of week’s trade, I prefer the bearish scenario.
GBP/USD: The pair is extremely calm since the beginning of the week. I am waiting for a clear direction for opening a position.
GBP/USD: Ahead of FOMC, the pair holds steadily above 1,3150. Let’s see how the FOMC minutes will affect the pair, but so far it shows signs of stability.
The pound is turning its direction. Healing slowly. Forming upside channel and the next stop would be 1.3200.
GBP/USD: Next stop - 1.2910. After that it’s time for an upwards correction.
This week GBP/USD may test 1.2950
GBP/USD continued the move down yesterday, making a bottom at 1.3011. The outlook remains bearish in the short term, but I recall the need for a clear break below the psychological level of 1.3000 for the restoration of the descending rally for the 1.2935 test. Immediate resistance is seen at 1.3090. A clear breakthrough over it may take the price to a neutral zone, but while it remains below 1.3175, I still prefer the bearish scenario at this stage. And any upward pressure should be considered as a good opportunity for short positions.
1.2950 achieved. It became a good support level. Let’s now see id the pair manages to pierce the strong resistance 1.3000.
The GBPUSD drops steadily below the 1.3000 level and it may drop to the 1.2800 level.
The GBP/USD manages to close the week on positive territory after some very volatile sessions. On the daily chart of the GBP/USD we can see that the pair breaks above 1.3000 level and the 55 day EMA to reach the 1.3110 level. In case of continuing higher, the pair may reach the 200 day EMA (blue line), which is currently around the 1.3246 level. Just above the 200 day EMA we can find the 55 week EMA around the 1.3300, which along with the round number level could contribute to turn the zone into a resistance. To the downside, below the 1.3000 level, the next support level could be the 1.2800 level.
Price is still under 3175 (closed at 3120) but the FA trend is UP.
The comments yesterday from Juncker are important insofar that he has been negative of late, the switch in his tone is what has helped GBP buying.
More likely that positive soundings from the EU side will continue in the upcoming week, the UK side (normally the most vocal) are quiet which adds to the sense of GBP positive up ahead.
Buy the rumour for now je crois.
Edit: to get a sense of market thinking on GBP and brexit good idea to look at Eur/Gbp for ‘sentiment’. - last 2 weeks:
