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GBP/USD daily outlook
Jun 21, 2017 at 10:36
Miembro desde Nov 16, 2015
posts 708
The British pound lost 107 pips against the dollar. The session was opened at 1.2736, and prior to noon the bulls scored their peak at 1.2757. This was the turning point of the day, as the bears broke the support at 1.2690, bottomed at 1.2602. At the end of the day 1 pound was exchanged for 1.2629 US dollars.
Jun 22, 2017 at 08:59
Miembro desde Apr 09, 2016
posts 421
The British Pound attempted to offset the loss from the previous day by adding 43 pips to its asset against the dollar. The opening quote for the day was 1.2628, and before noon the bears recorded their bottom at 1.2589. There was a rapid response from the bulls and the course broke the resistance at 1.2690 to reach a peak of 1.2671. Bulls did not have the strength to keep the course over the resistance, and at the end of the day a pound was exchanged for 1.2671 US dollars.
Miembro desde Jul 10, 2014
posts 1117
Jun 22, 2017 at 14:16
Miembro desde Jul 10, 2014
posts 1117
GBP/USD bounced off from 1.2590, but considering the doji candlestick and the shooting star candlestck that it has formed on the four-hour time-frame at 1.2680 it may test the aforementioned support at 1.2590 once again.
Miembro desde May 09, 2017
posts 33
Jun 23, 2017 at 11:32
Miembro desde May 09, 2017
posts 33
GBP/USD printed a weekly low of 1.2589 on Wednesday before BoE Chief Economist Andy Haldane’s hawkish comments pushed the pair higher to 1.2710.
UK Prime Minister Theresa May’s visit to Brussels failed to move the pair in a big way on Thursday. The spot traded around 1.27 levels in the Asian session today. The weekly 50-MA offers support at 1.2660.
Bearish exhaustion below weekly 50-MA
For three weeks now (including this week), the sellers have failed to keep the pair below weekly 50-MA. On the weekly chart, we clearly candles with long tails below the weekly 50-MA, suggesting dip demand/bearish exhaustion.
Reference: https://forexdaytips.blogspot.com/2017/06/will-gbpusd-bulls-be-able-to-defend.html
UK Prime Minister Theresa May’s visit to Brussels failed to move the pair in a big way on Thursday. The spot traded around 1.27 levels in the Asian session today. The weekly 50-MA offers support at 1.2660.
Bearish exhaustion below weekly 50-MA
For three weeks now (including this week), the sellers have failed to keep the pair below weekly 50-MA. On the weekly chart, we clearly candles with long tails below the weekly 50-MA, suggesting dip demand/bearish exhaustion.
Reference: https://forexdaytips.blogspot.com/2017/06/will-gbpusd-bulls-be-able-to-defend.html
Jun 24, 2017 at 10:37
Miembro desde Apr 09, 2016
posts 421
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2719, gaining 0.29%. I believe that support is now at the level of 1.2587, the minimum of Wednesday, and the resistance is likely at 1.2817, the maximum of Monday.
Miembro desde Oct 02, 2014
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Miembro desde Jul 10, 2014
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Jun 26, 2017 at 14:58
Miembro desde Jul 10, 2014
posts 1117
GBP/USD bounced off from 1.2750 after forming a shooting star candlestick and a pair of spinning top candlesticks on the four-hour time-frame below that resistance. Next target is likely 1.2700 again.
Jun 27, 2017 at 18:05
Miembro desde Nov 16, 2015
posts 708
The British pound reported a volatile session against the US dollar on Monday. The currency pair lost only 11 pips at a closing price of 1.2722. Daytime extreme values were reached at 1.2759 and 1.2706 respectively. A more significant challenge for the couple in the downward direction is the 1.2700 level. A potential breakthrough will create the possibility of a prolonged decline.
Miembro desde Jul 10, 2014
posts 1117
Jun 28, 2017 at 13:39
Miembro desde Jul 10, 2014
posts 1117
GBP/USD continues moving to the upside despite the signals for the opposite, likely due to fundamentals. The pair broken out above the last high at 1.2860 and its next target is likely at 1.2975.
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Miembro desde Feb 03, 2017
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Miembro desde Oct 11, 2013
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Miembro desde May 09, 2017
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