The British pound fell against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2818, losing 0.46%. I believe that support is now at around 1.2764, the low of Wednesday, and resistance will probably be at the level of 1.2924 - a maximum of Thursday.
The pair is holding around 1.2800 level despite the EU leaders agree UK's Brexit deal at the summit which take Brexit one step ahead. The pair stay within its familiar range while the market awaits the UK parliament vote on the deal.
GBP/USD: On Friday, the pound fell to a minimum over the week: the pair GBP/USD fell by 0.5% to 1.2812, after the publication of new economic reports indicating a slowdown in economic growth in the eurozone.
GBP/Usd seems picked up a bit, but still not showing any strong reaction from the Brexit deal. The pair is expected to continue trading within the range for now, immediate resistance is at 1.2850 and on the downside support can be seen at 1.2795.
Price is going to range until we get closer to the Brexit vote. Then who knows... If we get a deal then price should stabilise and start moving upwards but if there is no deal (which is likely) then anything could happen and GBP will be highly volatile. Best to stay away until picture is clearer
GBP/USD: The pound fell on Tuesday after warning that the agreement on Brexit is unprofitable for the UK. GBP/USD declined by 0.6% to 1.2753 after the US president announced that the Brexit agreement, signed by the British Prime Minister Theresa May seems to be an excellent deal for the EU that could lead to the termination of trade between the UK and the USA.
Gbp/usd made a signifficant rise today, gaining more than 100 points on its behalf and holding above the key resistance at 1.2810. If it manages to hold above this level, we could expect 1.2860 or even higher. On the flip side, going back to 1.2760 would resume the bullish scenario.
Lack of new Brexit headlines keeps the Pound trading within the range under 1.2800 level, the pair continues under pressure and downside potential increase when the pair break below support level around 1.2720 handles.
Brexit uncertainties have weighed in on GBP/Usd, the pair has extended its consolidation movement to the lower ground, mid 1.2700's. While the pair remains bearish, the downside seems capped to 1.2700 level.
I think he will fall down deep, but we have to wait and watch the last monthly candle. I think it will be Doji candle which assures the pair will continue in their main downtrend. he is stabilized around 1.26950 support level but I think he will break it soon. by the way, he is inside a horizontal channel and as I see he is going down to touch its bottom. why do I think that? on the monthly chart, he was in a downtrend since 7/2014 and he completed his correction to 50% Fibonacci on 4/2018 and then he back to his main movement 'going down' and he now stabilizes at 23.6% Fibonacci and when he breaks it, he will fall to 1.2190 'the bottom level of the horizontal channel'
It's already gains 50% after the falling yesterday to the lowest point from 2017 April, 16th. Today's debates will positive affect the GBP/USD, I believe. But after that there is a chance to find the GBP/USD on the bottom of 1.2000
A lot of volatilty on the GBPUSD lately but the 1.2800 level could act as resistance. Above the 1.2800 level its next resistance could be the 1.2900 level, followed by the 200 day EMA at the 1.3000 level. Below the 1.2700 level, its next support could be the 1.2600 level.
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