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The British pound has moved to a fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.3010). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPUSD is in a uptrend and the continuation of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.297. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.301. TP4: R2=1.3055. Set the stoploss of these orders at breakout of S2=1.295. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level...
The British pound continues to firm above the 1.2900 level against the US dollar, following a bullish weekly and monthly price close. Technical analysis shows that GBPUSD buyers have the upper hand while price closes above the 1.2890 level on a daily basis. Risk-averse traders may await a move above the 1.3000 level in order to confirm a range break and a...
The British pound has staged a strong rebound from the 1.2830 level against the US dollar after selles failed to break under the current weekly trading low. Going forward, a series of bullish price close is needed above the 1.2900 level is needed to encourage medium-term buying. A new high above the important 1.2960 level would also be extremely bullish for the...
The British pound is testing key support around the 1.2840 support level against the US dollar, following bearish news surrounding the upcoming UK election. Sellers need to break the 1.2820 level or the GBPUSD pair will most likely start to rally back towards the 1.2900 level. Overall, daily price closes above the 1.2940 level should be considered a strong sign...
Big Boys Start Selling from this level so what you are waiting for . Take a small SL and sell sell sell
The British pound is on the move against the US dollar, following a bullish reversal back above the 1.2900 resistance level. Going forward, GBPUSD short-term dip-buyers are expected to move in from the technically important 1.2880 support level. Overall, traders have few reasons to be bearish towards the GBPUSD pair over the medium-term while price trades above...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.286. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.293. TP4: R2=1.297. Set the stoploss of these orders at breakout of S2=1.284. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is attempting to recover from critical support against the US dollar, following an extended pullback towards the 1.2840 level. The GBPUSD pair has to rally from current trading levels to avoid a major technical test of the 1.2770 support. Overall, a daily price close above the 1.2940 level would confirm that the GBPUSD pair still intends to test...
The British pound continues to trade well above the 1.2900 level against the US dollar, following the renewed bullish sentiment towards the upcoming UK election result. Going forward, the GBPUSD pair remains a strong buy on dips back towards the 1.2840 level. At present, the 1.2880 level may be the nearest area of support GBPUSD bulls will attempt to enter if a...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.2875). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPUSD is in a uptrend and the continuation of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. ....
The British pound is holding firm against the greenback in early week trading, with the pair appearing to have a medium-term floor in place around the 1.2770 level. Going forward, GBPUSD buyers could rally price towards the 1.3100 level if buyers can continue to defend the 1.2840 support level. A sustained breakout above the 1.2930 level should be the trigger for...
The British pound is still holding onto its weekly gains against the US dollar, with the pair currently creating bullish higher highs. The four-hour time frame shows that the pair is trapped inside a wedge pattern, with the bottom of the wedge located under the 1.2840 level. A breakout above the 1.2910 level is currently needed for bulls to break free from the...
The British pound is holding firm against the US dollar currency, with the pair trading around the important 1.2850 level ahead of key inflation data from the UK and US economies today. The GBPUSD pair ideally needs to firm above the 1.2880 level to secure further gains towards the 1.2940 resistance level. Overall, GBPUSD bulls who are not already long from the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2815. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2875. TP4: R2=1.29. Set the stoploss of these orders at breakout of S2=1.277. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has performed a sharp reversal from the 1.2770 level against the US dollar after the chances British PM Boris Johnson securing a majority Parliament victory increased. Continued strength above the 1.2880 level is now needed to secure an important technical test of the 1.2940 resistance level. Overall, the GBPUSD pair could have formed an...