GBP/USD daily outlook

😐

Bearish here.

The pair is trading almost flat, seems have lost its downward strength, but the risk remains on the downside, critical support zone lies around 1.2500/20.

Yes,been watching the pair since last week,on a long term buy position.Anticipating for a reversal and upward trend this week.

The pair rose with over 100 pips today after forming a doji and a marubozu bar on the daily time frame and reached the resistance at 1.2670. I think that if there is a breakout above that resistance it will reach the previous high at 1.2774.

I am still in distress EURUSD is heading to 1.1100 first, before 1.2800

GBPUSD is 1.3200

It may not be a one way journey, but it surely will reach there. So, to be on a safer side, always seek for buying opportunities, instead of selling opportunities to avoid being caught up.

A day before the announcement of the lifting of the US base rate by the Fed, the dollar marked a slight increase against most currencies. Sterling traded at higher levels in the last session, but GBP/USD closed with a slight decrease of 1.2656.

The pound marked a volatile session against the dollar on Tuesday. Ultimately opening price was close to closing, respectively, 1.2671 and 1.2657. In the early trading hours bulls dominated, in result the resistance at 1.2704 was breached as the pair peaked for the day at 1.2727. Subsequently pound lost accumulated lead.

Key levels to watch for:
Support: 1.2505; 1.2428;
Resistance: 1.2704; 1.2773.

The US Federal Reserve raised its key rate to a range of 0,50-0,75 per cent per annum, and said that it is waiting for three increases in 2017.
By 20.24 GMT GBP/USD fell by 100 pips to 1,2588.

A very slight uptrend over the last month with 1.2299 strong support level and 1.2777 resistance. Such a range offers plenty of good opportunities to intraday traders I believe. MACD is above zero but showing a downward movement on a daily chart.

The pound tumbled against the dollar at the end of the week. The British currency responded to negative expectations and recorded serious loss. As a result, two key levels at 1.2505 and 1.2428 were overcomed, and meanwhile the pair made the third test of the support at 1.2366. If the downward momentum continues in the future, it will be breached. After correction upward, the pair closed the week at 1.2487.

Key levels to watch for:
Support: 1.2428; 1.2366;
Resistance: 1.0540; 1.0639.

The pair seems lack of directional strength, but still in the negative territory as long as the price kept below 1.2570 zone.

The GBPUSD had a bearish momentum yesterday bottomed at 1.2354. The bias is bearish in nearest term testing 1.2300 area. Immediate resistance is seen around 1.2425. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.2500 price is still in a bearish phase after broke below the trend line support as you can see on my H1 chart below.

It's in a definite bearish sentiment over the last week. A range support could be at 1.2296. Breaking it will confirm the bearish trend.

I agree, now that the pair has broken below the support at 1.2350 its next target will likely be at 1.2300.

Precisely. 1.2300 is the psychological level and definitely reachable today. The pairs is going down with strong momentum, currently in the upper range of the oversold area, below the trigger line of MACD. If the trend continues, the price will possibly enter the strong support range between 1.2270 and 1.2200 where a rebound is more likely. Eyes close to the Q3 US GDP Price Index announcement on Thursday which may share the market a bit right before the holidays.

The British pound recorded a moderate decline during yesterday's session after trading in a relatively narrow range. GBP/USD slid 13 pips to 1.2352, reaching extreme values respectively at 1.2390 and 1.2324. The price continues to consolidate around the support at 1.2350, but remained under downward moving averages and RSI on negative territory, implying additional losses.