GBP/USD daily outlook

Still no sign of recovery.

The pair is stalling at the 1.3180 level, but I think it will likely continue moving to the downside.

The GBPUSD may consolidate around the 1.3200 level if the bearish momentum is lost. The 1.3532 level may act as resistance, while the 1.2800 may act as support.

The Pound has rebound strongly today, the pair remain its negative tone, but short-term might continue to gain further from strong jobs report data.

The GBPUSD failed to continue its bearish momentum yesterday topped at 1.3227 and hit 1.3274 earlier today in Asian session. The head and shoulders bearish formation I showed you yesterday is no longer valid. The bias is bullish in nearest term as we may have a false break (below 1.3100) bullish scenario testing 1.3315 region. Immediate support is seen around 1.3180. A clear break below that area could lead price to neutral zone in nearest term retesting 1.3100 key support.

The GBPUSD is still bound by the 1.3100 as support and the 1.3200 zone as resistance. We should wait to see in which direction it breaks out of consolidation.

The Pound is in trouble again, it could test its psychological support level at 1.3000 again.

Sterling looks very weak.

Looking forward for the next week's GDP statistics and mortgage lending data in the UK. It's all old data on the 'other' Britain, but if they would be worse than expected, the sterling would not escape from the Bank of England's easing policy in the beginning of August.

GBP/USD is stuck in a tight range between 1.3160 - 1.3080 and it's doubtful that range will end before the fundamentals tomorrow.

Yes, the GBPUSD is still in a range, despite today's rally after the FED announcement. No clear trend in the middle term.

GBP - During morning trading EUR/GBP reached local highs near 0.8425 on a stronger euro, whereas yesterday's strong GDP data for the British pound left untouched since figures have lost their relevance.

The British Pound was up against the US Dollar on Friday. At the closing of trading session EUR GBP / USD has traded at 1.3228, gaining 0.49%. I believe that the support is now located at the level of 1.3055, Tuesday's low, and resistance is likely at level of 1.3302 - a maximum of Friday's trading.

The pair pound/dollar started to grow at the weakening of the dollar, but not strong. A support for the pound had the statistics. The volume of consumer credit in June increased from 1.59 to 1.87 billion. Mortgage lending in the same month increased from 2.90 to 3.3 billion. However, these data are insufficient for the couple go out from the lateral movement. Maybe next week something will change.

no direction on the GBPUSD, The pair is very undecided on the daily chart.

GBP/USD is testing 1.3250 again. A breakout above that resistance could lead to a further move to the upside towards 1.3300.

GBP/USD will likely stay within the 1.31 - 1.3350 bound range it has been holding for the last 3 weeks until BoE decides in two days.

A rate cut is fully priced in, but some speculate in a largely unnecessary QE expansion.

The GBPUSD had a bullish momentum yesterday topped at 1.3365. The bias is bullish in nearest term testing 1.3400/20 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 1.3300. A clear break below that area could lead price to neutral zone in nearest term testing 1.3250 or lower.

Significant growth marked the pound against the dollar on Tuesday. So the British currency fully recovered its losses from the previous session and with a maximum for the day at 1.3364 has breached the first resistance at 1.3342. Short-term expectations are still in favor of the pound. In this case the pair can make a second test at a key level 1.3496. The Tuesday session opened at rate of 1.3174 and bullish trend was leading from the start. Finish line was crossed at a price of 1.3353.