GBP/USD daily outlook

The British pound recorded a significant increase against the US dollar on Wednesday. The currency pair opened at 1.3237 and the price managed to break the first resistance at 1.3260. The pound finished at 1.3323 and in the short term the outlook remains positive, the immediate target is 1.3440.

GBP/USD is climbing steady this week. I think the trend have more power in itself.

Gbp/Usd seems has lost it upside momentum, hovering around 1.33 level, break above 1.3360 would send the pair back to its bullish trend.

Despite forming a new high at 1.3382 GBP/USD bounced off from that level and formed a shooting star candlestick on the daily time-frame before continuing moving to the downside. If it breaks out below 1.3220 it will probably fall back to 1.3140, which is the (MA)89 indicator on the daily time-frame.

An extremely dynamic session recorded the pound against the dollar on Monday. Despite the volatile trend, however, the opening price was close to closing at 1.3320 and 1.3316, respectively. At first, the moods dominated and the pair reached a peak at 1.3382, breaking the first resistance at 1.3371. Subsequently, the pound totally lost its accumulated positions.

Support: 1.3244; 1.3206;
Resistance: 1.3371; 1.3455;

The pound recorded a second consecutive volatile session against the dollar on Tuesday. Trading was open at a rate of 1.3316, as in the early hours the bearish sentiment was leading. So the pair broke the first support at 1.3244, after being hit bottom for the day at 1.3221. Subsequently, the trend sharply changed and the final was put in favor of the British currency at 1.3337. If the bullish moods continue, the resistance at 1.3404 will be tested.

GBP/USD bounced off from 1.3220 and rallied again, breaking out above 1.3382. The pair will likely continue moving to the upside towards 1.3500.

The Sterling saw massive buying this week. Good news coming from the UK.

The pair did continue moving to the upside towards 1.3500. For now it is still very bullish and it will probably continue moving to the upside towards the last high at 1.3655.

The British pound was down against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.3472, losing 0.42%. I believe that support is now at around 1.3221, Tuesday's low, and resistance is likely at 1.3550, the maximum of Friday's trading.

The uncertainty with Brexit negotiations continue affect Pound, support level can be found around 1.3420, break below will deeper the bearish correction movement.

csc2009 posted:
The uncertainty with Brexit negotiations continue affect Pound, support level can be found around 1.3420, break below will deeper the bearish correction movement.

It bounced off from 1.3420 again and since the sideways consolidation continues it will probably start moving to the upside towards 1.3500.

The British pound recorded a volatile session against the US dollar on Monday. The currency pair opened at 1.3436 and finished 42 pips higher. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the direction is maintained, there may be an attempt to test the first resistance at 1.3540.

GBP/USD bounced off from 1.3315. The pair is still bullish and the move to the upside may continue towards 1.3500.

Good move on the cable lately.

Gbp/Usd short term seems turned towards downside, support level can be found around 1.3350 and follow by 1.3310.

On a short term. I think the pound will go down to the point of 1.32763.

The pair has been difficult to trace lately.