GBP/USD daily outlook

The British pound record third consecutive day of gains against the dollar on Friday and second positive week. The price climbed by 45 pips for the day to 1.2597. The daily limit values ​​were reached respectively at 1.2672 and 1.2524. RSI develops in positive territory as the price remains above the rising moving averages, supporting positive attitudes.

Key levels to watch for:
Support: 1.2520; 1.2350; 1.2090;
Resistance: 1.2670; 1.2775.

Pound / dollar last week continued its upward movement, formed a peak of 1.2673 but closed lower at 1.2597 and hit 1.2491 earlier today. Trade signals are neutral, but as long as price remains above 1.2330, the pair is still in bullish phase as part of the bullish scenario of the formation hammer (daily chart) with goals in the region of 1.2790. First support is 1.2450. Intraday resistance at 1.2600 followed by 1.2650.

Really poor inflation. Downside will resume?

The pair is testing the support at 1.2400. I think that if it breaks out below that level it will reach the previous low at 1.2351.

The British pound erased some of its gains last week on Monday. GBP/USD broke three-day winning streak yesterday, reporting a drop of 88 pips to 1.2485. The pair traded within the extreme values ​​1.2591 and 1.2443. Despite the decline, the bulls remain in the leading position. Break 50-period average, however, will test their capacity by a further test of 1.2350.

GBP/USD bounced off the support at 1.2420 which coincides with the (MA)89 indicator on the four-hour time-frame after forming spinning top bars above that level on both the daily and four-hour time frames. Next target is likely at 1.2600.

Staying out of this pair for now.

The pair seems losing its upward strength, risk turn towards the downside, break below Friday low 1.230 would suggest further decline towards 1.22 level.

I see the pair is back on the upside but trading in a 50 pips range 1.248. I would wait a bit more to confirm the bullish trend before placing a trade.

Really poor trading pair. With all these changes everyday in UK and US I am considering not to trade it for now. Unpredictable

I have a short on Cable, and I am waiting for it break below 1.2440 to open another one. I think next target will be at 1.2400.

On Thursday, the dollar was almost unchanged at 14-year peak against other major rivals amid lingering optimism over the US economy, while trade volumes remained fragile due to Thanksgiving. GBP/USD is stable at 1.2447. Nearest levels of support and resistance are respectivly at 1.2320 and 1.2500.

The pound recorded choppy trade against the dollar on Thursday. Ultimately opening price was close to closing, respectively, 1.2437 and 1.2446. The trend has been volatile, and the difference between the highest and lowest value for the day was 93 pips. If the pound justify positive expectations, the pair will test resistance at 1.2529 soon.

Key levels to watch for:
Support: 1.2203; 1.2079;
Resistance: 1.2529; 1.2665.

Bearish on the pair.

Gbp/Usd the pair bounce around 1.25 level and shows sign of upward potential but limited, next resistance level can be found at 1.2560.

GBP/USD bounced off 1.2530 after forming a shooting star candlestick on the four-hour time-frame and continued falling. A breakout below the support at 1.2380 will likely lead to a further move to the downside towards 1.2300.

Hi all. What expectations do you have for GBPUSD now? I think that GBP may hit 1.25 one more time.