GBP/USD daily outlook

Big pull back on GBPUSD. Taken me by surprised. I was short from 1.2830 but thinking about closing now. Don't want this pulling back and stopping out for nothing.

The pair took a sharp reversal up today, but upside seems capped under 1.2800 level. 1.28 is a critical resistance level, as long as the pair has been kept below this level, the bearish trend would be still intact.

The Sterling shot up yesterday without any fundamentals to back it up afaik. Today's data can boost the rally.

arigoldman posted:
The Sterling shot up yesterday without any fundamentals to back it up afaik. Today's data can boost the rally.

i have the same feeling.

The pair has gained more than 250 pips and now trading above 1.30 level after news about PM May struck a deal with the EU on financial services. GBP/Usd is consolidating its gains but there is no indication of changing direction, next target is expected to be at 1.31 level.

Let's see if it's gonna break the 100 and 50 day moving average.

GBP/USD: The dollar traded without sharp fluctuations on Friday in anticipation of US labor statistics, moving away from a maximum of 16 months in the course of previous trades, as investors again switched to risky assets. The pound sterling held the advantage after the Bank of England left rates unchanged on Thursday and indicated a possible acceleration of rates in the future if Brexit runs smoothly. The pound sterling fell 0.02 percent to $ 1.2998, but held the bulk of the gains after a rise of 1.8 percent on Thursday, the maximum one-day increase since April 2017.

The British pound fell against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2969, losing 0.34%. I believe that support is now at around 1.2696, Tuesday’s low, and resistance is likely at 1.3041, Friday's trading high.

GBP/Usd starts the week with a small gap up, but the pair is stick around 1.30 level and currently showing no clear direction.

The pair continues its consolidation above 1.30 level due to the rumours about we might finally get Brexit financial services deal this week. My next target is at 1.3090.

GBP/USD: The pair attempted to drop last week, reaching bottom at 1.2695, but turned up and then closed higher at 1.2960, and now fights around 1.3000. Trading signals are neutral, but the longer the price remains above 1.2925, the short-term outlook is upward. On the upside, a clear break and daily closing over 1.3000 will clear the road to 1.3125. Downwards, a clear break and daily closure back below 1.2925 will interrupt the upward rally, but only a clear break below 1.2695 will activate my descending model again.

It looks like the Pound is preparing to make a move to the upside. Let's see how this unfolds.

The pair is trading just above 1.3100 level, continue with its bullish tone. US mid-term election result may affect the pair. I set my target at 1.3150.

Pound/dollar rocketing directly to 1.3200, thanks to good Brexit talks and anti-Trump situation.

GBP/Usd is maintaining its gains well above 1.3100 level, next resistance can be found around 1.3190, break above would open the door to further gains.

GBP/USD: The pair holds steadily above 1.3100. Target for the day: retest of 1.3175, followed by 1.3220.

It's approaching a good level to go short at 1.3220. Let's see if it gets there this week.

Pounds under pressure after Jo Johnson resigns over Brexit. With no Brexit deal at sight, GBP/Usd could remain in the negative territory. Next support level can be found around 1.2940 level.

GBP/Usd started the week with a bearish gap and downward movements continue on Brexit disappointment. In the H4 chart, the pair is consolidating around 1.2840 before the further decline as long as the Irish border problem stays unsolved.