GBP/USD daily outlook

The Pound is going up today, it's looking good.

Gbp/Usd continues its directionless correction movement with limited upside. 1.4025 become a tough resistance level, bulls will extend further if the pair breaks above it.

The pound recorded a volatile session against the dollar on Friday. In the end, trade ended in favor of the British currency, but the increase was negligible. If the bulls increase their influence, the pair will test the resistance at 1.4147. The session was opened at 1.3952 and the final was 14 pips up. The difference between the highest and the lowest was 100 pips.

Interesting levels to watch for:
Support: 1.3821; 1.3762;
Resistance: 1.4147; 1.4280;

Pound/dollar was indecisive yesterday. The price attempted to rise up with a peak of 1.4069 but closed lower at 1.3966. Views are neutral. As a whole, I stay bullish but the longer the pair stays inside the downward channel, the price is still in the downward correction phase. Immediate support is seen at 1.3927 (Monday's bottom). A clear break below this level may lead to further bearish pressure for testing 1.3850. Short-term resistance is 1.4050, followed by 1.4100. A clear break above 1.41 and a bearish canal can become a serious threat to the bears' correction phase.

The pair seems to hold steady on the downside ahead of US core PCE inflation for January, break below 1.3720 would confirm further decline.

GBP/USD - Tendency on 4H chart is in favor of the dollar. Current levels does not seems good enough for entering in another short positions and I would looking for entry around 1.3840/60 - if we see those levels.

The Pound looks bullish to me, id consider long next week.

GBP/Usd continue to trade in a tight range, remains in the negative territory. Immediate support level can be found at 1.3710, break below would lead the pair decline further.

The British pound recorded increase against the US dollar on Monday. The currency pair opened at 1.3796 and ended at 1.3848. Reaching the highest daily values at 1.3876, the price continues its upward movement from Friday and would test the first resistance level at 1.3917. With a successful break of 1.3917, the pound would head to 1.3990.

GBP/USD
Interesting levels to watch for:
Support: 1.3762; 1.3709; 1.3615
Resistance: 1.3917; 1.3990;

GBP/USD consolidating around 1.38.

Pound / dollar had a bearish momentum yesterday, reaching bottom at 1.3781. The views are bearish for testing 1.3750 - 1.3700 as part of the downward correction phase. Resistance for the day is 1.3835. A clear breakthrough over it could take the price to a neutral zone with testing at 1.3900, but as long as it stays in the downward channel, the price is still in the bears' correction phase. In the downside, a clear break and a daily / weekly closing below 1.3700 will open the doors to 1.3600 and the trendline support next week.

The pound gained positions against the dollar on Friday. The British currency justified the positive expectations and recovered some of the losses from the previous session. If the upward trend continues, the pair will break the resistance at 1.3930. Trade was open at a rate of 1.3806, and the pound added 38 pips to its value to the final. Peak for the day was reached at 1.3888.

GBP/USD
Levels to watch for:
Support: 1.3711; 1.3643;
Resistance: 1.3930; 1.4147;

Pound / dollar made momentum up yesterday, forming a peak at 1.3917. Expectations are bullish in the near future. The price now tests the upper limit of the downward channel, located around 1.3930 / 40. A clear breakthrough and daily closing over the price channel will become a serious threat to the downward correction phase with 1.4000 testing. The first support is at 1.3860. A clear breakthrough below this level may take the price to a neutral zone with test support of 1.3800 - 1.3750. Major bullish views remain valid, but we need a clear breakthrough of at least over 1.4000 to test the resistances of 1.4275.

Pound / dollar was indecisive yesterday, but still managed to hold upward intraday signals. The downward price channel violation supports these bullish signals. The outlook is upwards, especially if the price can make a clear break above 1.4000 for testing the region 1.4070 - 1.4100. Day support is 1.3925 (yesterday's bottom). A clear break below it can take the price to a neutral zone, the direction will become obscure, testing at 1.3875 or lower. Upwards a clear break and daily closure above 1.4070 - 1.4100 will take the cost of retesting the key resistance 1.4275. Basically, I'm staying in the bulls camp.

The Sterling seems to strengthen.

Gbp/Usd continue its sideway trading, stuck between 1.3840 to 1.4000 range. I expect the pair would continue to consolidate before FED and BOE monetary policy decision this week.