GBP/USD daily outlook
Mitglied seit Oct 11, 2013
775 Posts
Jul 05, 2016 at 05:24
No clear direction yet on the GBPUSD, but the bearish trend is still in place. Lets see if it manages to break below the 1.3200 level or if it bounce back up.
Jul 05, 2016 at 08:23
The British pound registered a rise against the US dollar on Monday. After a volatile session, the pound added 35 pips at a closing price of 1.3281. The graphics continue to develop under moving averages, while the index of relative strength remained on neutral territory. If prices continue to rise the pair will head towards resistance at 1.3480. On the downside, we can expect a break of the support at 1.3200.
Mitglied seit Jul 12, 2016
78 Posts
Jul 12, 2016 at 07:04
The GBPUSD was indecisive yesterday, but traded higher earlier today in Asian session hit 1.3091. This fact gives the hammer formation bullish scenario a better chance. The bias is bullish in nearest term testing 1.3220 region. Immediate support is seen around 1.3000. A clear break back below that area could lead price to neutral zone in nearest term testing 1.2950 – 1.2900 region. Overall I remain bearish but as long as stay above 1.2900 – 1.2950 price is still in a bullish correction bias.
Jul 12, 2016 at 16:46
The British pound started the week with an increase, recording a second consecutive positive session. The pair climbed 41 pips to 1.2991, but remained at a record low for the past 31 years levels. The daily limit values were noted at 1.3017 and 1.2850. Bears remain in a leading position, but relative strength index issued for weakness. Break of 1.3110 will contribute to positive attitudes with probable next target 1.3530.
Jul 12, 2016 at 19:42
On Tuesday, the dollar falls against other major currencies as investors shifted attention to the forthcoming meeting of global central banks on expectations of additional stimulus measures from their side.
GBP/USD rose to 1.3267, rebounding from a 31-year low of 1.2794 reached last Wednesday.
GBP/USD rose to 1.3267, rebounding from a 31-year low of 1.2794 reached last Wednesday.
forex_trader_29148
Mitglied seit Feb 11, 2011
1916 Posts
Jul 12, 2016 at 21:04
idimitrov posted:
The British pound started the week with an increase, recording a second consecutive positive session. The pair climbed 41 pips to 1.2991, but remained at a record low for the past 31 years levels. The daily limit values were noted at 1.3017 and 1.2850. Bears remain in a leading position, but relative strength index issued for weakness. Break of 1.3110 will contribute to positive attitudes with probable next target 1.3530.
that's called a market change
Mitglied seit Oct 11, 2013
775 Posts
Jul 12, 2016 at 22:45
The GBPUSD rallies, but it may just be a pullback to continue with its bearish trend on the daily chart. The 1.2800 level may continue acting as support and the 1.3532 as resistance.
Jul 13, 2016 at 16:35
Due to the forthcoming meeting of the Bank of England, the attention of market participants are still focused on the price dynamics of the British pound. After renewing the maximum in the Asian session GBP/USD corrected to 1.3336 to 1.3220. After a brief correction the pair has recovered to 1.3296. Currently pound against the US dollar is quoted at 1.3162.
Mitglied seit Jul 10, 2014
1117 Posts
Jul 15, 2016 at 10:40
GBP/USD couldn't break above the resistance at 1.3480, formed a double top there and then a hanging man candlestick below that level on the four-hour time-frame and naturally started falling. Next target is likely 1.3280.
Jul 17, 2016 at 09:45
The British pound fell against the dollar on Friday. At the close of trading session GBP/USD is traded at 1.3179, shedding by 1.20%. I believe that the support is now located at the level of 1.2849, Monday's low, and resistance is likely to be at the level of 1.3481 - the maximum of Friday's trading.
Mitglied seit Oct 02, 2014
909 Posts
Jul 17, 2016 at 10:23
Bearish on the Sterling.
Positivity
Mitglied seit Oct 11, 2013
775 Posts
Jul 18, 2016 at 03:35
The GBPUSD may form an inverted head and shoulders pattern on the daily chart if the price goes back up.
Mitglied seit Jul 10, 2014
1117 Posts
Jul 18, 2016 at 10:36
The pair is forming a flag on the one-hour time-frame, there will likely be a new move to the downside again with target 1.3130.
