The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.3009, gaining 0.24%. I believe that support is now at around 1.2940, the low of Friday's trading, and the resistance was likely to come in at 1.3063, Monday's high.
The British pound recorded a decline against the US dollar on Monday. The session began at 1.2998 and ended 35 pips lower. Daily extreme values were reached at 1.3021 and 1.2956 respectively. The currency pair remains at risk of further decline, with the target at 1.2700. For a change in direction, a break of 1.3090 will be needed.
The British pound recorded a significant decline against the US dollar on Tuesday. The session began at 1.2963 and ended at 1.2868. Graphics continued to grow below moving averages, while the RSI remained in the resale area. If the bearish trend keeps, the pair will head to the first support at 1.2700.
The British pound recorded a modest decline against the US dollar on Thursday. The session began at 1.2890 and ended 23 pips lower. Graphics continued to grow below moving averages, while the relative strength index remained neutral. If the direction goes down, the target will be the first support at 1.2700.
victoriajensen posted: GBP/USD is testing the support at 1.2840 and a breakout below that support level could lead to a further drop towards the next support 1.2790 - 1.2800.
I agree, the pair break below the immediate support level at 1.2840, would confirm further decline.
The consolidation above 1.2840 continues and it is unlikely that the pair will break out below that support before the market closes today. Next week though there might be a further move to the downside.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2878, gaining 0.08%. I believe that support is now at around 1.2832, the low of Friday's trading, and the resistance is likely at 1.3024, Monday's high.
Gbp/Usd has been consolidating for three weeks on the downside due to low demand on Pound. Political uncertainty after Brexit is still driving the pair. Immediate support can be found around 1.2830 level.
The pound/dollar currency pair registered a volatile session on Friday. The session started at 1.2867 and finished 8 pips higher. During the day the support at 1.2860 was broken, and it was enough for the bears to score at 1.2831. Peak for the day was reached at 1.2915.
GBP/USD may bounce off from 1.2880 which is the (MA)89 indicator on the daily time-frame and move to the upside towards 1.2925 - 1.2930. That said, considering the shooting star candlestick at 1.3265 on the weekly time-frame, which is still a valid signal for a move south, the overall drop may not be over yet.
The pound rose by 34 pips against the US dollar on Monday. The session was opened at 1.2864, and the last day's quote was 1.2898. During the day, the support at the 1.2860 level broke down, with the bears recording lows at 1.2849. Bulls peaked at 1.2915.
The dollar took 76 pounds of pound assets during trading on Tuesday. The session started at 1.2898, and the bulls prevailed over the bears only in the first four hours, reaching a peak of 1.2908. From that moment of the day, bear players dominated the market and led the course to the bottom at 1.2810 after the support was broken at 1.2860. At the end of the day, the currency pair was 1.2822.
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