GBP/USD daily outlook

Bullish consolidation may clear the pair to the way up if break above resistance around 1.3150/60 zone.

__
Global w2 TF targets ...


full screen size ! -
https://www.imagebam.com/image/acf9d8569813073

___

The GBPUSD continued its bullish momentum yesterday topped at 1.3223. The bias remains bullish in nearest term testing 1.3300/50 region. Immediate support is seen around 1.3160. A clear break below that area could lead price to neutral zone in nearest term testing 1.3125 – 1.3075 area which is a good place to buy. On the upside, a clear break and daily close above 1.3350 would expose 1.3500 region. Overall I remain bullish and only a clear break back below 1.3000 key support would interrupt the bullish outlook.

Gbp/Usd remains in the positive territory while pulled back starts corrective movement. Resistance can be found at 1.3245, break above leads to further gain.

The pair continues consolidating its gains ahead of BoE monetary policy meeting tomorrow. Resistance can found at 1.3250 and follow by 1.3300.

GBP/USD Charts H1 and H4 both look stretched. A correction appears on the way. That Pound is going up is mainly because the Euro is up and pulling up Pound. Last year this time Pound is roughly traded at the same level, and BOE cut rate and announced more asset purchasing and Pound collapsed. This year many people bet on a BOE hike, which appears unrealistic. BOE is likely going to disappoint. I'm considering to take a bet and put on a small short GBP position before the BOE events, though this carries great risks. If USD looks too much stretched, then Euro might be a good counter part. It looks like EUR/GBP is going to test the 2016-10 GBP flash crash high some time soon. The BOE super-Thursday could be the catalyst to kick-start another leg up, sending this pair on the way to test the 2016-10 high.

Summary :
Target Level : 1.3211
Target Period : 7 hours

Analysis :
Approaching Support level of 1.3211 identified at 02-Aug-17:00 2017 GMT-2

Gbp/Usd took reverse turn followed by the BoE's decision remain its low rate unchanged and found support at daily low 1.3110. The pair consolidating on the downside ahead of US Non-farm payroll.

GBP/USD hovering around 1.31, the pair looks fragile in the choppy environment lately.

The dollar pulled 84 pips out of the pound. At the beginning of the day one British pound was exchanged for $ 1.3198, and the course headed for resistance at 1.3250. By noon the bulls managed to break through and peaked at 1.3265, but three hours later the bears took their bottom at 1.3112. The last quotation for the day was 1.3137.

Support: 1.3030; 1.2860; 1.2690;
Resistance: 1.3250; 1.3380.

buy again !

just scam from banks for small bulls !


big bulls still in game !

only upp trend !!!

Pound / dollar made a downward movement yesterday with a bottom of 1.3112. Short-term expectations are downward, support 1.3125 - 1.3075 is a good place to place purchases.

Very good drop on the GBPUSD below the 1.3100 level, the pair may reach the 1.3000 level, but the 55 day EMA around the 1.2961 level may act as support.

GBP/USD has moved a bit to the downside. Possibly market sentiment could switch from bullish to bearish for the week. The US dollar seems strong.

Over the weekend, news showing UK is prepared to pay up to €40 billion divorce bill. The uncertainty around Brexit negotiation bring the pair towards the downside and found support level at 1.3000.

The GBPUSD finds a good support at the 55 day EMA around the 1.2968 level, but it may break that level to the downside to go and visit the 1.2900 level.

Pound / dollar was indecisive yesterday. Expectations remain bearish in the short term to test the 1.2930 - 1.2865 zone as part of the downstream phase after the breakthrough under the trendline support line. Resistance for the day is 1.3028 (yesterday's peak). A clear break above this level could take the price to a neutral zone with testing at 1.3075 - 1.3125. Generally, I am neutral on this pair, but a clear break above 1.3125 should re-activate the upward model.

The pound registered a slight increase against the dollar on Wednesday. The British currency broke off the negative trend of the day before, but a key breakthrough was not reached. If the Bears will win again, the first support at 1.2930 will be tested. The session was opened at a rate of 1.2990 and the closing price was 1.3003. The trend was volatile, as the peak of the day was reached at 1.3027.