GBP/USD daily outlook

Key levels to watch for today:
Support: 1.3051; 1.2790;
Resistance: 1.3342; 1.3496.

GBP/USD is testing the resistance at 1.3350. A possible breakout above that level could lead to a further move to the upside towards the previous high at 1.3480.

BoE cut the rate as expected, but surprised the market with a QE expansion.

Gbp/Usd further decline towards 1.3100 zone is expected after the consolidation, strong US employment report will send the pair targeting 1.3000 level.

The pair bounced off 1.3100 and is currently testing 1.3165. A breakout above that level would lead to a further move to the upside towards 1.3190 - 1.3200, but that also depends on the US Non-farm payrolls.

Bearish on the pair.

The GBPUSD is finding difficulties in breaking below the 1.3000 level. Possible bullish bounce.

It broke below 1.3000, its first target will likely be 1.2900, but it might continue falling below that level too.

The Pound remains under pressure after Dollar's recovery, further decline might be expected if the pair break the immediate support level 1.2900.

The British pound fell against the dollar on Friday. By the end of trading session GBP/USD was traded at 1.2914, shedding 0.32%. I believe that the support is now located at the level of 1.2904, the low of Friday's trading, and resistance is likely to be at the level of 1.3097 - Monday's high.

Most of the week the pound stayed lower than 1.30. GBP/USD has fallen after the house price balance in the UK appeard much worse than expected. The indicator was only 5% instead of the expected 15%. At the same time RICS said, that the fall in sales was the biggest since the financial crisis in 2008, the rise in prices in July was the slowest in three years, while the volume of new sales fell. This shows that the real estate market is already adjusting to the decision of the UK to leave the EU, and as British consumers are so heavily dependent on property prices, their sudden drop may affect consumer spending in the future.

GBP/USD: As expected, the pair formed a downward trend and it's moving to its historical lows. The next target level for the pair will be 1.2796, and later 1.2745.

Bullish on the pair.

Key levels to watch for:
Support: 1.2790; 1.2500;
Resistance: 1.3080; 1.3240; 1.3365.

The Pound has been hurt lately and the bearish trend may continue on the GBPUSD below the 1.2900 level.

alexforex007 posted:
The Pound has been hurt lately and the bearish trend may continue on the GBPUSD below the 1.2900 level.

Let's see, we have a very busy week ahead of us for Pound.

it will be up

yes its very up flying.

yes up and maybe down again