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GBP/USD daily outlook

HalleyFX
May 26 2016 at 10:18
posts 83
Looking to the daily chart, the cable is potentially about to from the second peak in a double top pattern. Consequently, as the pair reaches the 1.4765 mark traders will be looking for any sign of a reversal as this could mean some serious downside potential for the pound.

Whilst weaker fundamental results have serious downside potential, any upside movement will be severely capped by the robust long term zone of resistance at around the 1.48 handle. Additionally, the cable’s most recent rally has pushed the pair squarely into overbought territory. What’s more, the pound is not only oversold on the daily chart but on the weekly and H4 charts as well

Ultimately, with the probability of a Fed rate hike this June increasing, the pound is unlikely to be able to cling to recent gains for long. --> very strong reason to start selling off GBP/USD

paidsignals
May 27 2016 at 20:25
posts 93
The GBPUSD was indecisive yesterday. Price attempted to push higher, slipped above 1.4700 and the daily EMA 200 as you can see on my daily chart below but unable to make a clear breakout so far and hit 1.4656 earlier today. The bias is neutral in nearest term probably with a little bearish bias testing 1.4600 – 1.4550 support area. On the upside, 1.4700 remains a key resistance. A clear break and daily/weekly close above that area would activate my bullish mode next week targeting 1.5000 area.
victoriajensen
May 30 2016 at 16:00
posts 1117
GBP/USD is still pretty undecided. There appears to be a double top on the daily time-frame but there's no other signal that it will start falling again.
alexforex007
May 31 2016 at 07:00
posts 775
The GBPUSD fails to break above the 1.4700 level and falls back down really fast and close to breaking below the 1.4600 level.
paidsignals
May 31 2016 at 07:08
posts 93
The GBPUSD had a bullish momentum earlier today hit 1.4704. The bias is bullish in nearest term but 1.4700 region remains a key resistance and good place to sell with a tight stop loss. Immediate support is seen around 1.4660. A clear break below that area could lead price to neutral zone in nearest term testing 1.4600 region. On the upside, a clear break and daily close above 1.4700 would activate my bullish mode targeting 1.5000 area.
dianajs
May 31 2016 at 09:53
posts 823
The pair dropped sharply today and it's currently testing the support at 1.4570. I think that if it breaks below that level it will reach 1.4520 - 1.4500.
MahmudulRumi
May 31 2016 at 11:41
posts 2
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paidsignals
Jun 01 2016 at 08:12
posts 93
The GBPUSD had a bearish momentum yesterday after another failure to make a clear break above 1.4700 key resistance as you can see on my daily chart below, bottomed at 1.4464. The bias is bearish in nearest term testing 1.4350. Immediate resistance is seen around 1.4550. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear.
dianajs
Jun 01 2016 at 12:53
posts 823
I'm still short on this pair. Not only it reached 1.4500 it broke below that level and it's still falling. I have little doubt it will reach 1.4400 and I also think it might break below that support and continue towards 1.4330.
dianajs
Jun 02 2016 at 09:02
posts 823
I think the pair is too undecided before the ECB press conference today, not to mention the NFP tomorrow. No signal is very reliable right now.
HalleyFX
Jun 02 2016 at 09:16
posts 83
dianajs posted:
I think the pair is too undecided before the ECB press conference today, not to mention the NFP tomorrow. No signal is very reliable right now.

Spot on mate!
Ari Goldman (arigoldman)
Jun 05 2016 at 15:50
posts 909
Interesting move last week.
alexforex007
Jun 06 2016 at 05:56
posts 775
The next support on the GBPUSD may be the 1.4300 level, to the upside, the 1.4500 may act as resistance.
paidsignals
Jun 06 2016 at 07:09
posts 93
The GBPUSD was indecisive last week. As you can see on my daily chart below price is moving sideways between 1.4700 – 1.4350 and we need a clear break from that range area to see clearer direction. The bias is neutral in nearest term. Immediate support is seen around 1.4350. A clear break and daily close below that area could trigger further bearish pressure testing 1.4000 this week. Immediate resistance is seen around 1.4480 – 1.4500 area. A clear break and daily close above that area could trigger further bullish pressure retesting 1.4700 key resistance.
alexforex007
Jun 06 2016 at 17:49
posts 775
The GBPUSD has been every where during today's session. First it drops below the 1.4400 level, then it retraces to the 1.4450 level, oscillates around the 55 day EMA and now it wants to drop back down.
alexforex007
Jun 08 2016 at 02:28
posts 775
The GBPUSD is not going any where until the UK referendum is over. For now there is no trend with volatility.
dianajs
Jun 08 2016 at 10:55
posts 823
I agree, the pair is stuck in a relatively wide range between 1.4330 and 1.4740 which is most obvious on the daily time frame. Currently it's rising towards 1.4600 again. I don't think we'll see the range end before Brexit.
HalleyFX
Jun 09 2016 at 23:04
posts 83
so I was watching the EU debate. Nothing much I could make out of it, rather than Boris being hammered with personal attacks...
stian
Jun 10 2016 at 07:34
posts 325
Don't think the debate matter much, broadcastnow report fairly few viewers. But we are awaiting the polls, the polling results are still too close to call.
Ari Goldman (arigoldman)
Jun 12 2016 at 12:46
posts 909
Expecting the Referendum!
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