Gbp/Usd is consolidating around 1.30 level, showing no clear directional strength. Focus turn to UK inflation data on Tuesday.
GBP/USD is testing the support at 1.2840 and a breakout below that support level could lead to a further drop towards the next support 1.2790 - 1.2800.
Pound poised to lose further, as consumer spending worsens driving down the economy. BoE policy changes will be conducted not later than summer 2018 so for now the currency is in the bearish powers.
I agree, the pair break below the immediate support level at 1.2840, would confirm further decline.
The consolidation above 1.2840 continues and it is unlikely that the pair will break out below that support before the market closes today. Next week though there might be a further move to the downside.
Gbp/Usd has been consolidating for three weeks on the downside due to low demand on Pound. Political uncertainty after Brexit is still driving the pair. Immediate support can be found around 1.2830 level.
GBP/USD may bounce off from 1.2880 which is the (MA)89 indicator on the daily time-frame and move to the upside towards 1.2925 - 1.2930. That said, considering the shooting star candlestick at 1.3265 on the weekly time-frame, which is still a valid signal for a move south, the overall drop may not be over yet.
GBP/USD did break out below the support at 1.2880 and continued falling. A breakout below the previous low at 1.2830 could lead to a further move south towards 1.2700 or even 1.2680.
Difficult to trade lately… I hope it gets more clear next week.
The pair has a huge gap up and currently trading just above 1.290 level after Labour policy shift on single market.
After Labour policy shift on single market, Gbp/Usd might take u-turn next week.
GBP/USD bounced off from 1.2975 after forming a spinning top candlestick on the four-hour time-frame at that level. It will likely retrace back to 1.2900, which is the (MA)89 indicator on the same four-hour time-frame.
The pair is difficult to trade lately. I’m waiting for better days.
The pair is consolidating around 1.2950/60, no clear directional strength.
GBP/USD moved to the upside today and finally reached the resistance at 1.3030. A breakout above that level could lead to another rally to 1.3100.
GBP/USD reached a high at 1.3080 before it bounced off from that level and formed a shooting star candlestick on the four-hour time-frame. If the signal for a move to the downside is valid there will likely be a drop to 1.2900.
Pair is being dormant lately, Maybe September will act as a catalyst.
While the pair maintains strong upward momentum, rising to resistance level at 1.3225, the lack of progress on Brexit talking could hold back the gains this week.
Good day for the British Pound, up substantially against all peers.
GBP/USD formed a double top at 1.3223 and it also formed a shooting star candlestick on the four-hour time-frame. Both are signals for a move to the downside and if they are valid next target will likely be around 1.3120, which is the (MA)89 indicator on the one-hour time-frame.