Gbp/Usd is slowly building up some gains but still within the range, upside seems limited, 1.0900 act as psychological resistance level.
Cable continues to be trading within a narrow range in positive territroy , there is no clear directional strength, the consolidation would probably continue until Friday preliminary Q1 GDP release.
Finally, the pair confirmed a bullish break out of 1.2910/1.2900 zone after multi-week consolidation. On the upside, 1.2950 and follow by 1.30 psychological level might be in sight.
GBP/USD is having a very strong bullish rally as price advanced to a high of 1.2962. Bears might try to take it down this week.
The pair is showing small pull back, but risk remains on the upside. I’m expecting Gbp/Usd would consolidating further until break above 1.2965 and lead to next resistance zone at 1.3.
I agree. The retracement could continue back to 1.2890 - 1.2880, or even lower than that, but the trend remains bullish for now.
GBP/USD retraced back to 1.2860 and bounced off from that level after forming an inverted hammer candlestick on the one-hour time-frame. It is moving to the upside again and it will likely test the previous high at 1.2965.
GBP/USD continues it’s way to the upside. I’m expecting 3% this week!
Gbp/jpy 05/10
GBP/USD bounced off from 1.2988 after forming a shooting star candlestick at that level on the four-hour time-frame as well as a double top, also at that level. The pair is testing the support at 1.2850 and a breakout below that level will likely lead to a further move to the downside towards 1.2800.
Gbp/Usd bearish consolidation movement capped under 1.29 level, the pair needs clear breakout of 1.3000 level to confirm further gains, on the downside support zone are around 1.2830/20.
BoE certainly won’t make any steps towards easing cuz inflation speeds up at decent pace because of depreciation. The only matter of concern is weak figures on consumption, investments, and construction. Pay attention to housing market as purchases of durable goods is a good indication of consumer sentiment.
Remember that all recessions start from a change in consumer and business expectations (Keynes)
Last piece of data manufacturing and sales was too daunting, but hope next streak won’t reveal any weaknesses in the economy.
To recap, I would really try to enter long, but for now only wait-and-see.
GBP/USD did not make any interesting moves this week. Interesting to see how the next develops.
The pair has no enough directional strength, any further gain would require break above the immediate resistance level around 1.2920/30.
GBP/USD finally found some resistance at 1.3050 and bounced off from that level after forming a shooting star candlestick on the four-hour time-frame. Next target is likely 1.2940.
Cable couldn’t remain above 1.3000 level, increase the chance of further decline, immediate support can be found around 1.2900/1.2880 zone.
Very good move last week. I’m expecting the upside trend to continue in the next.
Cable continue it’s consolidation, risk seems remain on the downside. On the upside, 1.3000 act as psychological resistance level and follow by 1.3120.
GBP/USD is stuck in a wide range between 1.3050 and 1.2925. So far there is no indication for a breakout, but the target to the downside should the pair fall below 1.2925 is likely 1.2850.
Good move last week. I expect a change in trend for the short-term.