GBP/USD daily outlook

GBP/USD bounced off from 1.3030 again and the pair formed a double bottom at that level. There will likely be a new move to the upside towards 1.3300.

The British pound recorded a neutral session against the US dollar on Tuesday. The currency pair opened at 1.3169 and the pound lost only 4 pips. Daytime extreme values ​​were reached at 1.3177 and 1.3108 respectively. If the bullish trend of the last few sessions persists, there may be a break in the first resistance at 1.3260.

Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;

deresel posted:
Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;

Interesting forecast! :)

Pound/dollar was hesitant yesterday. The price attempted to decline, making a bottom of 1.3108, but closing higher at 1.3165. The signals are ascending in the short term for the testing of 1.3270, but the key resistance remains 1.3330. The closest support is 1.3130. A clear break below it could take the price to a neutral trading area with testing at 1.3075/50, but an important support remains 1.3000. Overall, I'm up.

What caused the drop in Sterling today?

The pair seems to be trading sideways.

GBP/USD is bullish and it will likely continue climbing next week. That said, for a further rally above the sideways consolidation to be confirmed it will have to break out above the last high at 1.3337.

Gbp/Usd opens the week with bearish gap, support can be found at 1.3037, I'm expecting further decline if breaks below it.

The pound lost positions against the dollar on Monday. The British currency interrupted the positive impulse from Friday and collapsed. As a result, support at 1.3071 was broken. Short-term expectations remain in favor of the dollar. The session was opened at lower levels compared to the end of last week, with the trend predominantly bearish. After the bottom of the day was hit at 1.3061 the direction was changed and the final was set at a rate of 1.3114.

Key levels to watch for:
Support: 1.3071; 1.3024;
Resistance: 1.3279; 1.3334;

The pound recorded a positive session against the dollar on Thursday. The British currency continued the bullish trend since Tuesday, but a key breakthrough was not reached. Trading was open at 1.3170 and the final was 23 pips higher. The session was extremely volatile, with the difference between the highest and the lowest for the day being 71 pips.

idimitrov posted:
The pound recorded a positive session against the dollar on Thursday. The British currency continued the bullish trend since Tuesday, but a key breakthrough was not reached. Trading was open at 1.3170 and the final was 23 pips higher. The session was extremely volatile, with the difference between the highest and the lowest for the day being 71 pips.

Thanks for the udpate.

Gbp/Usd continue ranging between 1.302 and 1.325 with limited upward strength. The market continue to focus on Brexit.

The British pound recorded a modest rise against the US dollar on Friday. The currency pair started at 1.3192 and the pound recorded a volatile session. The price jumped from the resistance at 1.3260 and the pair finished at 1.3216. Breaking the levels at 1.3260 or 1.3100 will be indicative of prevailing attitudes.

Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;

GBP/USD - 1.3300/15 may offers some short term opportunities from the sell side of the market with tight targets and stops :)

The British pound recorded a volatile session against the US dollar on Monday. The currency pair added 18 pips to a closing price of 1.3233. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the price continues to rise, the pound will focus on the resistance at 1.3260.

GBP/USD is still stuck in the sideways consolidation between 1.3030 and 1.3320. The fundamentals this week may finally end the consolidation but so far there is no signal that will happen.