GBP/USD daily outlook
Member Since Dec 10, 2017
210 posts
Apr 26, 2018 at 14:30
Pound / dollar resumed the downward momentum yesterday, reaching a bottom at 1.3922. Signals are bearish in the near future, especially if the price can make a clear break below 1.3917 for testing 1.3850 or lower as part of the bearish correction after the false break above 1.4275. The first resistance is at 1.4000, whose breakthrough may take the price to a neutral trading area, and the direction will become obscure. On downside, a clear break and daily closing below 1.3850 will clear the way to 1.3710 and the trendline support line. This zone is a good place for long positions with narrow stops because a clear break below it will cancel the main bullish views.
Member Since Oct 02, 2014
909 posts
Apr 28, 2018 at 13:39
Big drop this week in the pound, i believe we have reached support and next week a move up can be expected.
Positivity
May 03, 2018 at 08:36
The British pound recorded a modest decline against the US dollar on Wednesday. The currency pair opened at 1.3613 and the price bounced from the first resistance at 1.3655. Eventually, the pound ended at 1.3571 and if the price went down, there could be a first support test at 1.3460.
Member Since Dec 10, 2017
210 posts
May 03, 2018 at 10:17
Pound/dollar resumed momentum down yesterday, making the bottom at 1.3554. I think the price convincingly breaks the trendline of support, which not only resolves the main bullish trend, but may be a sign of a downward reversal. Expectations remain down for testing at 1.3500 - 1.3460 in a near perspective. Immediate resistance is at 1.3625, whose breakthrough can take the price to a neutral zone for testing of 1.3660. But while the pair remains below 1.3710, I still prefer the bearish scenario and any upward pressure should be considered a good opportunity for short positions.
Member Since Dec 10, 2017
210 posts
May 09, 2018 at 18:41
Pound/dollar did not make a substantial move yesterday. Signals remain neutral, but overall I still prefer the bearish scenario at this stage. Intraday support is 1.3480/60. A clear breakthrough and daily closure under it can open the doors to 1.3300. Immediate resistance is 1.3600, whose breakthrough can lead to future upward pressure. But the longer the pair remains below 1.3710, each upward pressure should be seen as a good sales opportunity as part of the bearish scenario following the breakthrough trend line.
May 10, 2018 at 12:47
The British pound fell only slightly against the US dollar on Wednesday. The currency pair opened at 1.3546 and ended at 1.3545. The pound during the US session reached a peak of 6 days to 1.3606, after which the price dropped to 1.3540. In case the downward movement persists, the pair will focus on support at 1.3458.
May 10, 2018 at 13:31
GBP/USD - Nice range and two levels to be monitored:
down side - 1.3485/90 for long entry and
upper side - 1.3615/25 for short entry.
I believe market will go up, but I do not want to enter from current levels with such a big stop of 50 + points :)
down side - 1.3485/90 for long entry and
upper side - 1.3615/25 for short entry.
I believe market will go up, but I do not want to enter from current levels with such a big stop of 50 + points :)
Member Since Oct 02, 2014
909 posts
May 11, 2018 at 17:47
I closed my short position, ready to see some correction.
Positivity
May 14, 2018 at 06:46
Intraday Elliottwave Analysis: GBPUSD, divergence is anywhere
GBPUSD traded around 200 day MA for several days.
We see clear divergence, but bulls need to regain at least 1.3975.
If not, deeper retracement toward 1.3211/1.3155 could not be ruled out.
If today close above will be regain some upside momentum.
To the downside, nearest support is 1.3420/1.3387.
Daily support Levels: 1.3544 1.3526 1.3499 1.3453 1.3438
Daily resistance Levels: 1.3568 1.3594 1.3618 1.3649 1.3670
Intraday Trade Idea:
Sell Latentinterest Order: 1.3689
Buy Latentinterest Order: 1.3439
GBPUSD traded around 200 day MA for several days.
We see clear divergence, but bulls need to regain at least 1.3975.
If not, deeper retracement toward 1.3211/1.3155 could not be ruled out.
If today close above will be regain some upside momentum.
To the downside, nearest support is 1.3420/1.3387.
Daily support Levels: 1.3544 1.3526 1.3499 1.3453 1.3438
Daily resistance Levels: 1.3568 1.3594 1.3618 1.3649 1.3670
Intraday Trade Idea:
Sell Latentinterest Order: 1.3689
Buy Latentinterest Order: 1.3439
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May 16, 2018 at 12:16
The pound fell against the dollar on Tuesday. The British currency did not meet the positive expectations and lost positions. So the pair broke the first support at 1.3458, but the final was placed above these levels. The session was opened at 1.3555, and the bearish moods dominated from the start. The bottom of the day was hit at 1.3450 and the closing price was 53 pips higher.
Member Since Dec 10, 2017
210 posts
May 16, 2018 at 13:04
Pound / dollar had momentum down yesterday, sliding under strong support of 1.3480, but closed higher at 1.3506. Expectations are downward so far, especially if the price can make a convincing move below 1.3480 for testing 1.3330. Immediate resistance is at 1.3525, whose breakthrough can take the price to a neutral zone with testing at 1.3600. I remind, however, that the longer the pair remains below 1.3710, I stay bearish and every bullish pressure should be considered a good opportunity to place short positions.
Member Since Oct 02, 2014
909 posts
May 18, 2018 at 14:15
GBP/USD looks like it's ready for an upward move at current market price around 1.3460.
Positivity
Member Since Oct 02, 2014
909 posts
May 23, 2018 at 08:08
5 month low for the Sterling. And it seems there's more way down.
Positivity
