The British pound recorded a positive session against the US dollar on Wednesday. The currency pair opened at 1.4144 and ended 45 pips higher. The chart continued to grow above the moving averages, while the relative strength index remained neutral. For additional pound gains, a breakthrough on the next resistance is needed.
On Thursday, the dollar slightly rose in price against other major currencies, receiving support as a result of a positive statement by the Fed, made on Wednesday after the results of its meeting. GBP rate fell: GBP/USD sank by 0.16% to 1.4168.
The pound recorded a neutral session against the dollar on Tuesday. So the couple stayed at the lower levels they reached at the beginning of the week. Trading was open at 1.3957, and the finale was 11 pips down. Around midday, the bearish moods prevailed, and support at 1.3912 was punctured after the bottom was hit at 1.3836. Short-term expectations remain in favor of the US currency.
Pound/dollar had a bearish momentum yesterday, reaching bottom at 1.3848. The signals are bearish so far, especially if the price can make a clear break below 1.3835 for testing at 1.3750. The first resistance is 1.3935, whose breakthrough can take the price to a neutral trading area with 1.3978 testing. Overall, I remain upward, but the longer the pair stays below 1.4275, the price is still in the downward consolidation phase.
On Friday, the US dollar moved to growth against other major currencies after the US Congress voted for an agreement on the parameters of the federal budget for the next two years, ending a short suspension of the government. The pair GBP/USD dropped 0.86% to 1.3793 in the afternoon.
The British pound recorded a decline against the US dollar on Friday. The currency pair opened at 1.4098 and finished 87 pips lower. Daytime extreme values ??were reached at 1.4144 and 1.3996 respectively. The price has found support at 1.4015, but given the negative outlook, a sequential test at the relevant levels is not ruled out.
Pound/dollar was hesitant yesterday. The views remain neutral, possibly with slight downside signals for testing at 1.3900. Immediate resistance is at 1.4050. A clear breakthrough and daily closure above this level may cause future bullish pressure to test 1.4150. But as long as the price stays below 1.4275, we can see a further downward correction to the trendline support line.
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