GBPUSD expected to rise up to 1st resistance at 1.25596 where it could potentially react off and drop down to 1st support at 1.24923. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPUSD is approaching its resistance at 1.27631 where it is could reverse down to its support at 1.26723. Disclaimer: Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
GBP/USD reaches two month maximum at 1.3550 As it appears from hourly chart, the 1.3550 mark signified the two month maximum that the cable could not surpass. In result of a rebound, a new junior descending channel has been formed. The pattern is expected to stay in force at least until the rate will reach support set up by the 100-hour SMA and the weekly PP...
GBP/USD surges to 1.3360 but then retreats On hourly chart the British Pound is continuing to gain value against the Dollar in a two-week long ascending channel. Generally, the cable is projected to continue heading to the top in the above pattern using support continuously provided by the rising 55- and 100-hour SMAs. The ultimate goal is located near the...
GBP/USD spikes to 1.3230 but then drops A release of better than expected growth rate of the UK Manufacturing Production created an upside momentum that enabled the pair to return back to the 1.3228 level. However, then fears of growing political risk in Britain and Trump’s participation in the ASEAN summit strengthen the buck and dragged the exchange rate to...
GBP/USD forms ascending triangle pattern During the previous trading session the currency rate expectedly returned back to the 1.3110 mark, which represents location of the 23.6% Fibonacci retracement level. As this barrier was additionally backed up by the 55-hour SMAs, it made a rebound. However, the fact that the cable failed to climb above the 50%...
GBP/USD stuck at monthly S1 at 1.3073 Initially, the Pound tried to restore some and even used a momentum provided by release of better than expected UK Services PMI to climb to the 1.3107 mark. However, the subsequent release of positive American data neutralized this attempt and returned the pair back to the monthly S1 at 1.3073. Unless traders receive some...
Morning outlook - GBP/USD fails to break above 55- and 100-hour SMAs In accordance with expectations, a combination of the 55- and 100-hour SMAs as well as the former monthly R2 did not let the pair to make any notable advances on Friday. In fact, they continued to push it to the bottom, simultaneously forcing to form a minor symmetrical triangle. Due to...
Morning outlook - GBP/USD fails to break through weekly R2 Contrary to expectations, the Pound did move horizontally for long but instead tried to break through the weekly R1 at 1.3077. A reaction from release of information on the US ISM Non-Manufacturing PMI was barely enough to neutralize this attempt. In result, today the pair remains squeezed between...
Our preference: short position below 1,2895 with targets at 1,2855 & 1,2825 in extension. Alternative scenario: in excess of 1,2895, aim for a continuation of the rise with 1,2920 & 1,2945 in line of sight. Comment: the immediate trend is declining and is showing a strong dynamic.
Our preference: sales position below 1,3000 with targets at 1,2950 & 1,2910 in extension. Alternative scenario: in excess of 1.3000, aim for a continuation of the rise with 1,3030 & 1,3075 in line of sight. Comment: The slide under 1.3000 is a negative signal that paved the way for 1.22950.
Tested the highlighted resistance 3 times, now broke down. Good probability short. Enter however suits you. Comment what you think will happen. This is just my opinion on things.
The went lower last week, formed just above near-term support at 1.2828. As we have discussed recently,Bulls still taking in control. traders can still watch for pull backs ideally followed by a price action buy signal on the 1 hr, 4 hr or daily charts to get long.