GBP/USD daily outlook
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Mar 31, 2017 at 18:01
The ongoing phase of consolidation is similar to the temporary pauses seen during last February-May and July-September. Recently, the pair rebounded towards the upper bound of the triangle (currently at 1.2610) and has started to retrace. A move towards the triangle support near 1.2155/1.21 looks likely, with the next support at 1.20/1.1918. The weekly channel at 1.2680/1.2780 remains a prominent hurdle.
Mar 31, 2017 at 21:54
The British pound was up against the US dollar on Friday. By the close of the US trading, GBP/USD is trading at 1.2550, gaining 0.65%. I believe that support is now at 1.2375, the minimum of Wednesday, and the resistance is likely to come in at 1.2618, the maximum of Monday.
Apr 01, 2017 at 05:03
The GBPUSD attempted to push higher yesterday topped at 1.2524 but closed lower at 1.2467. Overall price is still in a bearish phase since fell below the bullish channel as you can see on my H1 chart below but still unable to stay consistently below the H1 EMA 200 and moving inside a minor bullish channel. The bias is neutral in nearest term probably with a little bullish bias testing 1.2530 – 1.2550 region. Immediate support is seen around 1.2450. A clear break below that area could trigger further bearish pressure testing 1.2375 key support which need to be clearly broken to the downside to continue the bearish scenario.
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forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 01, 2017 at 09:04
Monday's high at 1.2615 could be seen as the first technical resistance for the GBP/USD, followed by 1.2680 (Feb. 1 high) and 1.2730 (Dec. 14 high). On the downside, below 1.25 (psychological level), the bearish slide could extend towards 1.2405/10 (50-DMA/100-DMA) and 1.2370 (20-DMA).
Apr 03, 2017 at 10:07
The GBPUSD attempted to push lower last week bottomed at 1.2375 but whipsawed to the upside and closed higher at 1.2553. As you can see on my H1 chart below price is moving back above the H1 EMA 200 and inside a bullish channel suggests a short-term bullish view. The bias is bullish in nearest term testing 1.2615 region. Immediate support is seen around 1.2520/00. A clear break below that area could lead price to neutral zone in nearest term testing 1.2450 area.
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forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 03, 2017 at 13:33
GBP/USD is up 0.01% at 1.2551 and a breakout of 1.2598 (high Mar.28) would aim for 1.2618 (high Mar.27) and finally 1.2661 (200-day sma). On the other hand, the next support aligns at 1.2497 (23.6% Fibo of the March up move) followed by 1.2429 (55-day sma) and then 1.2375 (low Mar.29).
Member Since Jul 10, 2014
1117 posts
Apr 03, 2017 at 17:23
GBP/USD bounced off from 1.2555 after forming a doji candlestick and a spinning top candlestick at that level on the four-hour time-frame. It's currently testing the support at 1.2470 and a breakout below that level will probably lead to a further drop towards the previous low at 1.2375.
Apr 04, 2017 at 08:58
The GBPUSD had a bearish momentum yesterday bottomed at 1.2465. The bias is bearish in nearest term testing the lower line of the bullish channel as you can see on my H1 chart below located around 1.2450 area. A clear break below that area would expose 1.2400 – 1.2375 region. Immediate resistance is seen around 1.2515/30 area. A clear break back above that area could lead price to neutral zone in nearest term but would keep the short-term bullish bias remains alive and kicking testing 1.2615 region.
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forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 04, 2017 at 09:15
GBP/USD is losing 0.42% at 1.2434 and a breakdown of 1.2381 (20-day sma) would expose 1.2375 (low Mar.29) and then 1.2362 (50% Fibo of the March up move). On the flip side, the next hurdle lines up at 1.2556 (high Apr.3) followed by 1.2598 (high Mar.28) ahead of 1.2562 (high Mar.31) and finally 1.2618 (high Mar.27).
Member Since Dec 07, 2016
21 posts
Apr 04, 2017 at 10:20
GBP/USD is still in range 1.2050 - 1.2750. The better tactic now is to trade the range until pair doesnt break the border of channel up or down.
Power is nothing without control
Apr 04, 2017 at 11:23
MagicMartingail posted:
GBP/USD is still in range 1.2050 - 1.2750. The better tactic now is to trade the range until pair doesnt break the border of channel up or down.
that is 700 pips range . its not like anyone can hold in for 700 pips anyway .
Member Since Dec 07, 2016
21 posts
Apr 04, 2017 at 14:42
that is 700 pips range . its not like anyone can hold in for 700 pips anyway .
it's absolutely normal range, my strategy is adapted for ranges like this
Power is nothing without control
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 05, 2017 at 06:56
GBP/USD is up 0.04% at 1.2446 facing the next hurdle at 1.2556 (high Apr.3) followed by 1.2598 (high Mar.28) and finally 1.2562 (high Mar.31). On the other hand, a breakdown of 1.2395 (20-day sma) would expose 1.2375 (low Mar.29) and then 1.2362 (50% Fibo of the March up move).
Apr 05, 2017 at 09:24
The pound recorded a second consecutive loss against the dollar on Tuesday. The British currency continued negative momentum from the beginning of the week, but the decrease was not significant. If the bearish sentiment, however, become more intensive, the support at 1.2329 will be overcome soon. The session started at a price of 1.2484, while the pound lost 46 pips to the finish. The trend was volatile but ultimately the downward direction prevailed and the pair hit bottom at 1.2418.
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 06, 2017 at 13:19
Key support is at 1.2418, a breakdown below this level will confirm that the uptrend from 1.2109 had completed at 1.2615 already, then the following downward movement could bring price to 1.2200 area. Key resistance is at 1.2557, a break of this level will indicate that the uptrend from 1.2109 has resumed, then next target would be at 1.2650 area.
forex_trader_338100
Member Since Jun 21, 2016
898 posts
Apr 07, 2017 at 09:02
GBP/USD is down 0.27% at 1.2435 and a breakdown of 1.2427 (20-day sma) would expose 1.2375 (low Mar.29) and then 1.2362 (50% Fibo of the March up move). On the other hand, the next hurdle aligns at 1.2556 (high Apr.3) followed by 1.2598 (high Mar.28) and finally 1.2562 (high Mar.31).
Member Since Oct 02, 2014
909 posts
Apr 07, 2017 at 16:01
The GBP/USD pair did not make any unexpected moves this week. The pair continued to trade in the range 1.25 and 1.2370. CMP 1.2397.
Positivity
