The pair broke above the resistance trendline of the bearish move to the downside that started on 6th September after forming a double bottom above the support at 1.3240. I think we can expect it to reach at least 1.3400.
Forex, 16h september 2016 : suggestions for main currencies
Everyday at Sidney's opening time, according to some volatility and direction parameters analyzed on the world's majors USD , EUR , GBP , JPY , I purpose my advise on the likely scenario, within the following Tokyo, London and New York sessions.
For the next hours, I prefer sell setups on GBPUSD .
I recommend to those who want to follow my indications, to operate by their own strategy and be careful, considering the erratic price movements due to economic calendar news, and plan every trade with suitable risk/reward ratio as allowed by the available capital balance and working time.
The British pound fell against the dollar on Friday. By the close of US trading GBP/USD was trading at 1.3001, shedding 1.81%. I believe that the support is now located at the level of 1.2998, the minimum of Friday's trading, and resistance is likely at the level of 1.3351 - Monday's high.
The pair rose during yesterday's session after the price found support at 1.2945 for a second consecutive day. The meeting at the Federal Reserve contributed to increased volatility, which was peaking at 1.3046. Overall pound rose by 42 pips to 1.3028. The pair remains below average values. A break of 1.3070 would open the possibility of a test of 1.3150/60.
The British pound fell against the dollar on Friday. By the close of US trading GBP / USD was trading at 1.2955, shedding 0.92%. I believe that the support is now located at the level of 1.2915, the low of Friday's trading, and resistance is at the level of 1.3125 - the maximum of Thursday.
The dollar lost gains against the other major currencies on Wednesday after the release of positive data on orders for durable goods in the US, while the markets are still focused on the long-awaited meeting of key oil producers. GBP/USD is down by 0.09% to 1.3007.
Pound/dollar was indecisive yesterday but still managed to keep the bullish intraday signals and hit 1.3057 earlier this morning. Trading signals remain for up to test 1.3100, but I prefer bearish scenario as a whole. Immediate support is seen at 1.3000, a break below could lead the price to neutral trading zone for testing 1.2950/00 but important support remains at 1.2790.
The British pound recorded neutral session against the US dollar on Wednesday. The pair lost only 5 pips at a closing price of 1.3015. If the downward trend continues, most likely the pound will test the first support located at 1.3000. Otherwise, the upside, the pair will test resistance at 1.32000.
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
Todos los datos y la información se proporcionan "tal cual" con fines informativos únicamente y no están destinados a fines comerciales o de recomendación.
Los resultados pasados no son indicativos de los resultados futuros.