GBP/USD daily outlook

Still nowhere to go.

The pair crossed the support at 1.2270 now trading at around 1.2240. RSI is around the oversold area while momentum is slightly bearish. This could be a sign of trend reversal with the price bouncing up by the market close today.

The British pound fell against the dollar on Friday. By the end of the American session GBP/USD is trading at 1.2277, shedding 0.06%. I believe that the support is now located at the level of 1.2229, the low of today's trading, and resistance is likely at the level of 1.2504 - Monday's high.

The Pound pressure remain on the downside, next immediate support zone around 1.2220/30.

csc2009 posted:
The Pound pressure remain on the downside, next immediate support zone around 1.2220/30.

I agree, the pair is quite bearish despite the holidays. It might even move towards 1.2160 - 1.2150 in the next few days.

The pair continues moving to the downside indeed and it will soon test the support at 1.2220. It would be unsurprising if it breaks below that level too.

GBP/USD bounced off 1.2200 but now it's moving to the downside and it will likely test that level again. Whether or not it will break below that support before 2017 remains to be seen.

Key levels to watch for:
Support: 1.2211; 1.2136;
Resistance: 1.2393; 1.2492.

GBP/USD - buy on 1.2277

• Stop: 1.2315
• Limit: 1.2118
• Time frame: 4 days

Conslidation continues.

Year 2017 is all about Brexit and will very likely keep Pound still under pressure, upside strength seems limited at 1.2390/80 zone.

Dollar drops in the end of New Year in a weakened trade.
The British pound jumped by 0.25% to 1.2258 against the dollar, after falling to a two-month low 1.2201 the previous day.

The pound recorded a second consecutive loss against the dollar on Tuesday. The British currency continued negative momentum and as a result, the pair managed to break through the first support at 1.2237. Meanwhile the pair tested the second key level at 1.2197 after hitting bottom for the day at 1.2199, but the breakthrough was postponed. Tuesday session started at a price of 1.2270 and the rate of closure was 1.2236.

The pound recovered ground against the dollar on Wednesday. The couple managed to get away from the support at 1.2197 and the breakthrough of the level was postponed. Short-term indicators remain in favor of the British currency. The session started at 1.2235, and the finale was put 88 pips higher. The trend was bullish, the highest value for the day was reached at 1.2352.

Key levels to watch for:
Support: 1.2197;
Resistance: 1.2425.

Bullish on the US dollar.

The pound recorded a powerful increase against the dollar on Thursday. So the couple continued the positive momentum from Wednesday, as two key levels at 1.2387 and 1.2425 were overcome. If the bullish trend remains high, resistance at 1.2507 will be tested soon. The session started at a price of 1.2323, while the pound gained 92 pips to finish. The maximum of the day was achieved at 1.2431.

The British pound fell against the dollar on Friday. By the close of US trading GBP/USD was trading at 1.2284, shedding 1.08%. I believe that the support is now located at the level of 1.2198, Tuesday's low, and resistance is likely at the level of 1.2436 - the maximum of Thursday.

hii where pound move its show downtrend but not clear yet