GBPUSD

GBPUSD is likely to keep on dropping to test its key support level near 1.2000 round psychological level, which could provide an opportunity to go long if the market provides any reversal signals such as double bottom , inverse head and shoulder, falling wedge or any reversal pattern. We will also consider candlestick patterns such as morning star , doji , bullish engulfing etc.

GBPUSD is likely to keep on dropping to test its key support level near 1.2000 round psychological level, which could provide an opportunity to go long if the market provides any reversal signals such as double bottom , inverse head and shoulder, falling wedge or any reversal pattern. We will also consider candlestick patterns such as morning star , doji , bullish engulfing etc.

With the way things are going I can't look past DXY rallying quite a bit more yet. I won't be surprised to see GBPUSD head towards 1.15 mid term.

Lately, shares have been swinging back and forth due to a contraction in the services sector and its Composite index.

Could be a big week for this pair with the recent technical recession news from the US as well as still increasing inflation and another 0.75% interest rate hike. I'll be keeping an eye out for Thursday BoE rate news to see if they plan to stay conservative or go with a 0.50% raise to attempt to curb inflation.

Now I see that everything points to a breakout of the pound. I suppose GBPUSD will rise to the level of 1.15910. And then if pounds breaks through this level, it will mean the bull movement.

Not so confident GBP is looking to breakout. Weaker vs EUR and USD at the moment.

The pound rose well on the undulating movement as well. Now it is pulling back, although it is still a bullish trend. Until the bear, I hope it does not come.

Still not bullish for me yet. Needs to break 1.1740 for me to be on board