GBP/USD daily outlook
Mar 22, 2017 at 15:57
Pound/dollar had a bullish momentum yesterday, formed a peak of 1.2493. Commercial bias remains bullish for now to test 1.2570 as part of the bullish scenario after the rebound of a triple bottom near 1.2135/08. Intraday support at 1.2440 is seen. A clear break below that could bring price to neutral zone for testing 1.2390. The longer, however, the price holds above 1.2300, I prefer bullish scenario at this stage, and any downside pullback should be seen as a good opportunity to buy.
Mar 23, 2017 at 09:36
GBP/USD registered a volatile session on Wednesday. The pound has won 6 pips to an asset. The opening rate was 1.2473 and during the day there were numerous fluctuations in the currency pair. In the first hours of the new day, there was a slight majority of the bulls and they successfully took a peak at a level of 1.2505. There was awakening in bearish players and consequently the course reached the bottom at a rate of 1.2423 or just 3 pips from the first support. Eventually a British pound was worth 1.2479 against the US dollar.
Member Since Jul 10, 2014
1117 posts
Mar 23, 2017 at 15:17
GBP/USD continues moving to the upside despite the doji candlestick on the daily time-frame at the resistance at 1.2500. The closest target is likely at 1.2550.
Member Since Jan 17, 2017
8 posts
Mar 23, 2017 at 15:44
Going higher
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Mar 23, 2017 at 16:05
Momentum above session high resistance near 1.2525 level is likely to get extended towards 1.2555-60 horizontal hurdle, above which the pair should aim towards reclaiming the 1.2600 handle. On the downside, retracement back below 1.25 mark now seems to find immediate support near 1.2480 level and only a decisive break below this support would negate near-term bullish bias and trigger a near-term corrective slide back towards 100-day SMA strong resistance, now turned important support near 1.2410 region.
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Mar 24, 2017 at 10:04
Strong overall bullish stance was boosted by Thursday’s close above 1.2476 (Fibo 61.8% of 1.2704/1.2107 downleg), keeping targets at 1.2563/69 (Fibo 76.4% of 1.2704/1.2107 / 24 Feb high) in near-term focus. Overbought slow stochastic on daily chart suggests that correction may extend, but no firmer bearish signal seen so far. Broken 100SMA (1.2412) and top of daily cloud (1.2404) mark strong supports which are expected to contain extended dips.
Member Since Jul 10, 2014
1117 posts
Mar 24, 2017 at 13:36
The pair bounced off from 1.2530 after forming a doji candlestick and a shooting star candlestick at that level on the four-hour time-frame, it will likely retrace back to 1.2440 - 1.2430.
Member Since Oct 02, 2014
909 posts
Mar 24, 2017 at 13:47
GBP/USD reached a high of 1.2530 this week and then started going downhill. The pair is now 1.2484 as we approach the closing candles for the week. Trend on the short-term looks bearish with first bear target at 1.2453.
Positivity
forex_trader_368320
Member Since Oct 12, 2016
12 posts
Mar 26, 2017 at 07:25
<a href='
' target='_blank'>march2417_gbpusd_chris.png</a>
' target='_blank'>march2417_gbpusd_chris.png</a>
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Mar 29, 2017 at 08:35
Premier has signed the letter which will trigger Article 50 tomorrow, starting negotiations for the UK to leave the EU.😕
Mar 30, 2017 at 10:49
The British pound registered a volatile session against the dollar on Wednesday. The pair opened at 1.2448 and ended at 1.2432. The graphics continue to develop between moving average, while the index of relative strength remained on neutral territory. In the short term outlook remains neutral as overcoming the levels at 1.2516 or 1.2360 will determine prevailing attitudes.
forex_trader_354005
Member Since Aug 22, 2016
183 posts
Mar 30, 2017 at 14:36
At the upside, daily cloud top at 1.2473, reinforced by Tenkan-sen line, marks the first upper trigger, with extension above 1.2500 (top of hourly Ichimoku cloud that caps near-term action) needed to signal stronger upside attempts. On the downside, loss of 1.2420/13 pivots would risk fresh weakness towards lower triggers at 1.2360/56 (daily Kijun-sen / cloud base) and signal bearish continuation on firm break lower. Res: 1.2466; 1.2473; 1.2500; 1.2522Sup: 1.2414; 1.2395; 1.2356; 1.2338.
Member Since Oct 02, 2014
909 posts
Mar 31, 2017 at 14:27
GBP/USD held its ground after Article 50 was triggered. The pair looks strong enough to make a move to the upside next week.
Positivity
Member Since Jul 10, 2014
1117 posts
Mar 31, 2017 at 14:27
(edited Mar 31, 2017 at 14:52)
GBP/USD is consolidating sideways above 1.2400 - 1.2410 and if it breaks out below that level it will likely continue falling.
Mar 31, 2017 at 16:40
Pound/Dollar tried to lift up in the end of the week, topped at 1.2539. Overall price is still in the downward phase after break below the bullish price channel, but has not yet managed to stay convincingly below EMA 200 and moves in the minor ascending channel. The outlook is neutral for now, perhaps with slight bullish signals for testing 1.2550. The nearest support is at 1.2475. A clear break below that area could trigger further downside pressure testing a key support 1.2375, which needs to be clearly pierced down for the continuation of the bearish scenario.
