GBP/USD daily outlook

GBP/USD relatively unchanged after the NFP and Jobs report. Dollar index, however, down significantly.

A small gap down, Cable trading almost flat below 1.29 level. All eyes on Election this week.

GBP/USD moved to the upside again today and reached a new high at 1.2940 before it bounced off that level. Should it break out above that high it could continue rallying towards 1.3000.

victoriajensen posted:
 GBP/USD moved to the upside again today and reached a new high at 1.2940 before it bounced off that level. Should it break out above that high it could continue rallying towards 1.3000.

but it won't . SELL GBP this week

I say 'Buy' this baby.

Buy GBP. It looks promising

How much volatility is everyone expecting from the election this week compared to what everyone expected from the French election?

At least as high. A Labour win would cause a very strong decline in GBP. But there would also be a lot of volatility following Conservative win. If it is a hung parliament then there would also be a fall. I'm tempted to take a short with a 200 pips SL and target 1.23

Due to USD yield falling, in an event of a hung parliment, GBP may indeed fall about 500 pips but it will rebound and retake the previous level of 1.29 and given a while will edge higher.

May is going to WIN thats for sure .

pound is going to RISE big time in around 1.50 ( Pre Brexit levels ) ...

thats what i think .

Cable rise up to around 1.296 level, risk remains on the upside, next resistance level located at 1.3000. With UK election today, the result and market reaction towards it are unpredictable. I would be very cautions.

GBP/USD is testing the support at 1.2920 and a breakout below that level is quite possible, but nothing is certain until the results of the general election in the UK come out later today.

The pound-dollar currency pair opened the day at 1.2907 on Wednesday, and by the end of the session the British currency added another 50 pips to its asset. No breakthroughs at key levels were reached. Before noon the bears reached their bottom at 1.2887. The next hour of the course gradually rose to reach a peak at 1.2965.

Is the majority of the volatility finished in this pair for the next several days? Any possibility of another major sudden movement? Any polls set to still come out?

dmaggio posted:
Is the majority of the volatility finished in this pair for the next several days? Any possibility of another major sudden movement? Any polls set to still come out?

Polls are not very useful when it is seat for seat, you can win 70% on a poll, but win 30% of the seats since polls are usually by voters and some districts are big.

Too risky to trade GBP/USD on fundamentals today. Gonna wait for the results.

However there is a high chance that GBP will break 1.3000 lvl after May is confirm the winner.

Good afternoon,
I would like opinions about possible volatility for the result of today's elections ??
Thank you

The pound-dollar currency pair recorded a volatile session before the parliamentary elections in the UK. The pound lost 6 pips after the opening day of the day was 1.2957, and the last day's quote remained 1.2951. Today's extreme values ​​remained respectively at 1.2977 and bottom at 1.2907.

Key levels to watch for:
Support: 1.2860; 1.2690;
Resistance: 1.3030; 1.3220; 1.3440.