STERLING_PIPS

STERLING_PIPS

GBP/USD is trading below its 50 SMA suggesting a correcting down in the short-term. The slide might be limited to 1.3030 support while bulls can still lift the market towards 1.3070 and 1.3100 if they gather enough steam. On the flip side, a breach below 1.3030 can open the gates to 1.2950 level.

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We have not broken down through the major support level underneath, at least not at the time of this writing. If we were to break down below the ¥144 level rather significantly, that opens up the door to much lower pricing, perhaps down to the ¥140 level. Otherwise, if we were to bounce from here and clear the ¥145 level, then I think we could go to the ¥148...

STERLING_PIPS

The potential for bearish trend continuation. This zone runs from 1.2960 up to 1.3000, and a hold of resistance here can open the door for bearish strategies with stops above 1.3020. Target potential could remain around the same 1.2900, 1.2829, 1.2783 and, longer-term, the 1.2671-1.2721 zone.

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Japanese markets will be closed from 27th April to 6th May, which will be the longest market closure since World War II. Consequently, this has seen fears mount that there is the possibility of a flash event and volatile market movements, given that Asian hour liquidity conditions will be lower than average, this thin liquidity consequently raises the risk of a...

STERLING_PIPS

GBP/USD may stage a larger rebound as it snaps the recent series of lower highs & lows, with a move back above the 1.2950 (23.6% retracement) to 1.3000 (61.8% retracement) area bringing the 1.3090 (38.2% retracement) region back on the radar. The IG Client Sentiment Report shows 73.7%of traders are net-long GBP/USD compared to 65.8% at the end of March, with the...

STERLING_PIPS

USD/JPY is currently trading at 112.20 between a range of 112.05 and 112.23, down from the overnight high of 112.39. Technical indicators on hourly charts have been losing momentum but maintained their bullish bias on the daily chart, suggesting some dip-buying interest to emerge at lower levels.

STERLING_PIPS

USD/JPY looked good for a bullish move above the recent high of 112.17. Bullish break above 112.17, however, needs to be backed by a falling channel breakout on the US 10-year yield, else the move above 112.17 may end up trapping buyers.

STERLING_PIPS

GBPUSD heading towards the key 1.3100 – 1.3105 resistance-confluence comprising 50-day simple moving average (SMA) level and a five-week long descending trend-line.In a case where the support-line figure of 1.3030 fails to limit the pair’s downside, 200-day SMA level of 1.2970 and 1.2950 including 100-day SMA could gain market attention.

STERLING_PIPS

GBP/USD may face range-bound conditions over the coming days as the 1.2950 (23.6% retracement) to 1.3000 (61.8% retracement) area offers support, with a move back above 1.3090 (38.2% retracement) raising the risk for a move towards 1.3170 (78.6% retracement).

STERLING_PIPS

Currently we are at 1.3057 in a range and USDX moving up. We are looking for a breakout here and continuation to the ATR target of at 1.2973. The average daily true range (ATR) for the pair currently is 114 pips. Sell: 1.30581 TP: 1.30181 SL: 1.30981

STERLING_PIPS

50-day simple moving average (SMA) figure of 1.3090, recent highs near 1.3125 and a month-long descending trend-line near 1.3150 can limit near-term upside ahead of highlighting 1.3200 resistance. On the downside, 1.3000, 200-day SMA level of 1.2975 and 100-day SMA level of 1.2940 could offer nearby strong support. Short: 1.30581 TP: 1.30181 SL: 1.30981

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Stalled at the 61.8% and swing highs. The GBPUSDs ups and downs continue as the EU Summit progresses. The most recent run higher took the price to the the swing areas at 1.31154 to 1.31209. The high price reached 1.31192, stalled and the price moved back down. ENT: 1.30904 TP: 1.31304 SL: 1.30504

STERLING_PIPS

Keep in mind, the broader outlook for GBP/USD is no longer bullish as both price and the Relative Strength Index (RSI) appear to be breaking the upwards trends from late last year, and the advance from the 2019-low (1.2373) may continue to unravel following the string of failed attempts to close above the Fibonacci overlap around 1.3310 (100% expansion) to 1.3370...

STERLING_PIPS

Sustained trading above 200-day SMA enables the quote to aim for 1.3095–1.3100 area comprising 50-day SMA, a break of which can further escalate the recovery towards four-week-old trend-line at 1.3180 now. Given the pair’s dip under 200-day SMA level of 1.2975, 1.2930 including 100-day SMA may gain sellers’ attention whereas 1.2900 may lure them afterward.

STERLING_PIPS

The British Pound (GBP) is on the bids near 1.3060 versus the US Dollar (USD) during early Tuesday. Sustained trading above 200-day SMA enables the aim for 1.3095–1.3100 area comprising 50-day SMA, a break of which can further escalate the recovery towards four-week-old trend-line at 1.3180 now. Given the pair’s dip under 200-day SMA level of 1.2975, 1.2930...

STERLING_PIPS

GBP/USD Technical Analysis The 50-day simple moving average (SMA) near 1.3100 can restrict immediate upside ahead of moving market attention to 1.3155 and the downward sloping trend-line stretched since mid-March, near 1.3200. Meanwhile, 200-day SMA level of 1.2980 becomes important support to watch during the pair’s decline whereas 1.2930, including 100-day SMA,...

STERLING_PIPS

GBP/USD rose 0.09% to $1.3114, moving sharply off lows of $1.3014. If continues to rise, it is likely to face a strong resistance near 1.3160, 1.3190 and 1.3200. A successful close above 1.3200 might push the pair back in a bullish zone.

STERLING_PIPS

(GBP/USD) Recovers from Fortnightly Low sharp intraday turnaround falters ahead of mid-1.3100s TRENDS Daily SMA20 1.318 Daily SMA50 1.3087 Daily SMA100 1.292 Daily SMA200 1.2978