As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=140.7. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=141.55. TP4: R2=142.1. Set the stoploss of these orders at breakout of S2=140.5. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
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...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (119.95). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURJPY 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 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...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.2670). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCHF is in a uptrend and the continuation of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
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...
The British pound is under threat against the US dollar on Monday as traders await a slew of high-impacting data from the UK economy this morning. Worse than expected UK data could sink the GBPUSD pair lower towards the 1.2740 support area. Overall, traders have few reasons to be bullish towards the GBPUSD pair this week unless the 1.2940 level is successfully...
The British pound is under heavy downside pressure against the US dollar after the recent dovish Bank of England meeting heightened technical selling. The GBPUSD pair risks falling towards the 1.2740 level, although the 1.2710 level is the main support area. Overall, selling any rallies towards the 1.2850 resistance level is the preferred intraday strategy when...
The British pound remains vulnerable to further decline against the US dollar as the pair weakens under the 1.2850 level. Going forward, a loss of the 1.2790 level could expose the GBPUSD pair to a technical test of the important 1.2710 support level. A more dovish Bank of England policy meeting later today also has the potential to push the GBPUSD pair...
The British pound is starting to appear weak against the US dollar after sellers forced the price below the important 1.2925 support level. The GBPUSD pair is at a serious risk of falling back towards the 1.2810 support level while trading below the 1.2925 level. Overall, GBPUSD buyers need to gain traction above the 1.2925 level to force a major technical test of...
The British pound is struggling to move away from its recent short-term trading range against the US dollar, following another failed attempt to move past the 1.3000 level last week. GBPUSD sellers may look to fade the GBPUSD pair this week if the price continues to fail around the 1.2980 to 1.3000 technical area. Alternatively, if a breakout above the 1.3000...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=140.35. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=139.3. TP4: S2=139. Set the stoploss of these orders at breakout of R2=140.65. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
The British pound has moved higher against the US dollar, following the Federal Open Market Committee interest rate decision on Wednesday. The latest advance in the GBPUSD pair may present an excellent opportunity to buy a breakout around the 1.2925 level. It is worth remembering that with the upcoming UK General Election the British pound is set for more volatile...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=139.8. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=140.8. TP4: R2=141.5. Set the stoploss of these orders at breakout of S2=139.4. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the...