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GBP/USD daily outlook
forex_trader_249603
Anggota Sejak May 13, 2015
83 pos
May 26, 2016 at 10:18
Anggota Sejak May 13, 2015
83 pos
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
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
Anggota Sejak Mar 28, 2016
93 pos
May 27, 2016 at 20:25
Anggota Sejak Mar 28, 2016
93 pos
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.
Anggota Sejak Jul 10, 2014
1117 pos
Anggota Sejak Oct 11, 2013
775 pos
Anggota Sejak Mar 28, 2016
93 pos
May 31, 2016 at 07:08
Anggota Sejak Mar 28, 2016
93 pos
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.
Anggota Sejak May 31, 2016
2 pos
May 31, 2016 at 11:41
Anggota Sejak May 31, 2016
2 pos
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Anggota Sejak Mar 28, 2016
93 pos
Jun 01, 2016 at 08:12
Anggota Sejak Mar 28, 2016
93 pos
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.
Anggota Sejak Oct 02, 2014
909 pos
Anggota Sejak Oct 11, 2013
775 pos
Anggota Sejak Mar 28, 2016
93 pos
Jun 06, 2016 at 07:09
Anggota Sejak Mar 28, 2016
93 pos
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.
Anggota Sejak Oct 11, 2013
775 pos
Anggota Sejak Oct 11, 2013
775 pos
Anggota Sejak Oct 02, 2014
909 pos
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