British pound against Dollar , have been travelling down most of the May month.. End of the month it looks to finish lower around 19500,
Expecting the price may go higher at the starting of June Ist week. till that it looks like controlled by bears.
Euro against pound , have the nearest support area at 0.89, and this week it will repeat the retest of area 0.90 and it will tend to fall against the pount..in the coming week..so this week. it may have sideway movement between 0.90 and 0.89
The British pound vs Dollar , has seen the worst dip in the march during virus outbreak .. and this pair slowly consolidating during the month of April slightly up. at the start of May, some positive news may push this pair to higher price.
PM quoted that the country past the peak and extending the lockdown period will help the economy to play safe..
Pound against Dollar analysis has a strong resistance 1.24, and it will looks to land in the support of 1.21 area , bears will mostly dominate this week possibly, this pair tries to form a Head and shoulder pattern this week..
POUND AGAINST DOLLAR , shows the uptrend at starting of the week , Strong rise from the Support and 21 EMA may push the price up, looks like ready to break the 1.32 resistance line,will go up , mostly buyers participation expected in GBPUSD party
GBPUSD resumes the last friday upward rise till 1.2700 and it has a chance to retest the level of 1.2200 , then continues it upward rally.. it can be a monthly analysis also.. based pure price action analysis.. not based on fundamentals..
Cable has resumed its downtrend and can test recent cycle lows.
As we said in our Market Movers comments yesterday, Brexit discord (and high uncertainty) both within the UK and between the EU and the UK continues to keep sterling soft. Poor manufacturing data yesterday morning - the lowest PMI reading in more than two years - has also not helped.