GBP/USD daily outlook
Aug 21, 2016 at 23:12
The British pound fell against the dollar on Friday. By the close of trading GBP/USD was traded at 1.3076, shedding 0.71%. I believe that the support is now located at the level of 1.2863, Monday's low, and resistance is likely to be at 1.3174 - maximum Thursday.
Aug 22, 2016 at 09:53
The pound finished the weekly session against the US dollar at 1.3076, down by 0.7%, but for the week rose by 1.2% on reduced concerns about the growth prospects of the national economy after Brexit.
Sterling jumped to 1.3184 after data showed that retail sales, employment and inflation beat forecasts, suggesting that the UK economy is stable after the British decision to leave the European Union.
Sterling jumped to 1.3184 after data showed that retail sales, employment and inflation beat forecasts, suggesting that the UK economy is stable after the British decision to leave the European Union.
Member Since Oct 11, 2013
775 posts
Aug 23, 2016 at 04:52
Very helpful opinions and ideas, good to hear different points of view.
Aug 25, 2016 at 08:12
The dollar rose against other major currencies on Wednesday despite weak US data on sales of existing homes, while sentiment on the dollar strengthened on the eve of the highly anticipated speech of Fed's governer on Friday. The pair GBP/USD rose by 0.36% to 1.3244, the highest level since August 4.
Aug 26, 2016 at 08:40
The pound record decline against the dollar on Thursday. British currency ended the three-day growth and thus break of resistance at 1.3288 was postponed. However, the pair tested the level, topped the day at 1.3168 and if the Bulls again prevail, it will be overcome. The session started at a price of 1.3230, while the pound lost 41 pips by the end of the day.
Member Since Oct 02, 2014
909 posts
Aug 28, 2016 at 06:52
Bullish.
Positivity
Member Since Jul 10, 2014
1117 posts
Aug 30, 2016 at 11:27
GBP/USD has formed a double bottom above the support at 1.3060. It is very likely we will see a retracement towards 1.3100 - 1.3130.
Sep 02, 2016 at 06:44
BNP Paribas is short in pounds and wait for 1.24
Short positions in the pound came under pressure in recent weeks after the release of data on retail sales in July in the UK and unemployment figures, that were better than expected. Concerns about the consequences of Brexit began to weaken, analysts say.
However, BNP Paribas remain bearish in pounds. In the short term the bank believe that GBP/USD will move to 1.24. Economists from the French bank continued to expect, that economic activity will decline in the third quarter, even if the economy avoid the worst scenario of Brexit.
On Tuesday released data also supported the outlook for the weakness of the economy: consumer and mortgage loans came out weaker, than expected, analysts say.
Short positions in the pound came under pressure in recent weeks after the release of data on retail sales in July in the UK and unemployment figures, that were better than expected. Concerns about the consequences of Brexit began to weaken, analysts say.
However, BNP Paribas remain bearish in pounds. In the short term the bank believe that GBP/USD will move to 1.24. Economists from the French bank continued to expect, that economic activity will decline in the third quarter, even if the economy avoid the worst scenario of Brexit.
On Tuesday released data also supported the outlook for the weakness of the economy: consumer and mortgage loans came out weaker, than expected, analysts say.
Sep 02, 2016 at 07:20
The British pound continued to rise against the dollar for the second consecutive session, overcoming its recent narrow range. The pair added 131 pips to a closing price of 1.3266, which was a one-month peak. Consolidation of current levels and confirmed break of 1.3270 will take the GBP/USD higher. Otherwise the price will test 1.3160.
Member Since Jul 10, 2014
1117 posts
Sep 06, 2016 at 12:06
There is a shooting star candlestick on the daily time-frame below the resistance around 1.3350 - 1.3370, so we might see a retracement soon.
Member Since Jul 12, 2016
78 posts
Sep 07, 2016 at 06:04
The GBPUSD attempted to push higher yesterday topped at 1.3375 but whipsawed to the downside and closed lower at 1.3301. The bias is bearish in nearest term testing 1.3250. A clear break and daily close below that area would expose 1.3150 or lower. On the upside, 1.3370 remains a key resistance and a good place to sell with a tight stop loss as a clear break above that area would expose 1.3500. As long as stay below 1.3500 my major technical outlook remains bearish.
Sep 07, 2016 at 07:44
Pound/dollar was up yesterday, breaking above the resistance 1.3370 and topped at 1.3444. Expectations are up for testing key level 1.3500, a clear break above it may not only interrupt the downward phase after Brexit, but also to become an early signal of bullish reversal scenario. Support for the day is seen at 1.3370, whose breach could lead price to neutral trade zone testing 1.3300.
Sep 07, 2016 at 07:58
The British pound registered an increase against the US dollar on Tuesday. The pair added 136 pips at a closing price of 1.3437. Price managed to break the first resistance at 1.3355, while daily extremes were reached respectively at 1.3296 and 1.3444. The outlook remains positive and the possible test of the next resistance is at 1.3480.
