GBP/Usd certainly took advantage of the news that EU will offer the UK a ‘super-charged’ trade deal, the pair rallied to above 1.31 level but lost its momentum after. Pound continues to be driven by Brexit hopes, on the upside important resistance level lies at 1.3300.
GBP/USD is still stuck in a sideways consolidation below the resistance at 1.3130. A breakout above that level could lead to a further move to the upside towards 1.3200.
Once again, Brexit headline that suggested the EU and the UK have moved further to reach a deal drive the pair to 1.3150 level. The pair currently consolidating its gains, as long as it holds above 1.3100 level, Pounds could still be targeting 1.3200.
GBP/USD reached 1.3200 and it is still testing that resistance. A breakout above that level could lead to a further move to the upside towards 1.3300 - 1.3310.
The pair briefly broke out above 1.3200 but is now back at that resistance and for now there is no confirmed breakout. Unless the fundamentals tomorrow push the pair above that level the consolidation may continue into next week.
GBP/Usd is consolidating lower to 1.3150 level, I’m expecting the pair would fall further on Brexit disappointment, the negotiations between the UK and EU are slower than expected.
Dominic Raab is making an unplanned visit to Brussels this pm to meet with Barnier etc. Talks are due to start in less than an hour’s time.
https://www.ft.com/content/d21103b2-...2-7574db66bcd5
If you have opportunity to set or adjust (or cancel) GBP and EUR orders and stops, don’t delay. There is no timetable for what’s happening right now but let’s imagine Raab flies home with some sort of agreement - it could be announced as soon as tonight.
GBP/Usd starts the week with a big bearish gap, Brexit disappointment continues to weigh in on the pair.
The pair recovered the gap and the move to the upside continues, it will likely test the resistance at 1.3200 again.
GBP/Usd has recovered the bearish gap but the upside is limited to 1.3182 the immediate resistance level. Although GBP/Usd is still consolidating in the negative territory, the direction of this pair will be dominated by Brexit news.
GBP/USD found some resistance at 1.3235 and is currently retracing from it. The pair may fall back down towards 1.3150.
Short-term the momentum remains bullish, but the pair upside is limited. GBP/Usd continues its sideway trading just below 1.3200 level.
It’s consolidating sideways above 1.3130, a further move to the upside will likely require a breakout above the last high at 1.3260.
The pair broke out below 1.3130 and continues moving to the downside, next target will likely be at 1.3000.
Once again disappointing Brexit news sent GBP/Usd straight down to near 1.30 level. Well, the negotiation continues. Support level can be found at 1.3010, break below would give the pair more pressure on the downside.
The pair did find some support around 1.3000 - 1.3010, the question is whether the move to the downside towards the next support at 1.2930 will continue.
The pair has dropped to the lowest point in 2 weeks, as long as GBP/Usd stay below 1.30 level, the negative momentum would be expected to continue.
At end of the day, there is still nothing new on Brexit negotiation which results GBP/Usd is lacking directional strength. The pair is consolidating below 1.30 level remain in the negative territory.
The downside is not over just yet, I set my target at 1.2785.
Brexit uncertainty continues to weight in on the Pound, there are might be consolidation but the bearish potential remains strong, my target remains in sight.