The British pound has moved above the pivotal 1.2850 level against the US dollar, following news that the European Union has granted the UK a Brexit extension. The upside move above the 1.2850 is lacking conviction and could soon start to stall. Overall, a confirmed bearish rejection back under the 1.2850 level could prompt a strong decline towards the 1.2720...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=139.5. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=140.75. TP4: R2=141.1. Set the stoploss of these orders at breakout of S2=139. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has slumped to a fresh weekly trading low against the US dollar as reports surface that British Prime Minister Boris Johnson may call for a UK General Election next week. The GBPUSD pair has a negative intraday bias while trading below the 1.2850 level. The GBPUSD pair is likely to be sold heavily on any rallies back towards the 1.2890 resistance...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=138.85. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=140.1. TP4: R2=140.75. Set the stoploss of these orders at breakout of S2=138.45. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is attempting to stage a recovery against the US dollar on Thursday after bulls continued to defend the important 1.2850 support level. Buyers must still remain cautious as a loss of the 1.2850 level could spark a strong decline in the GBPUSD pair. A sustained breakout above the 1.2900 level could cause the GBPUSD pair to rally back towards the...
The British pound has slipped below the 1.2900 level against the US dollar as bearish Brexit news weighs on the pairs trading sentiment. Selling any moves above the 1.2900 resistance level is now the preferred intraday strategy when trading the GBPUSD pair. More cautious traders may weight for a sustained breakout below the 1.2850 support level to initiate a...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=140.35. As short term forecast is uptrend too, so there is an expectation to reach the following targets: TP1: R1=141.35. TP2: R2=141.7. TP3: R3=142.3. TP4: To follow the trend, set an order without takeprofit (free trade) and while short term forecast remains unchanged, keep it...
The British pound has opened the new trading week slightly lower against the US dollar after British PM Boris Johnson failed to pass his new Brexit deal over the weekend. The 1.2850 level offers key upcoming support if the 1.2800 level is convincingly broken. Overall, the GBPUSD pair is still settling in a higher trading range and market participants remain...
The British pound is starting to trade towards the 1.2850 level against the US dollar, after the pair hit its highest trading level since May 2019 on Thursday. A medium-term price high could be in place for sterling if UK lawmakers fail to approve the new Brexit deal over the weekend. Overall, the GBPUSD pair is vulnerable to further selling while trading below...
The British pound is moving away from the 1.2876 level against the US dollar after the pair traded to a new monthly high on Wednesday. The recent breakout above the 1.2720 level is a bullish development for the GBPUSD pair and has increased dip-buying interest. Overall, medium-term analysis is still showing that the GBPUSD is unlikely to break the 1.2900...
The British pound is trading back above the 1.2600 resistance level against the US dollar after the pair found strong dip-buying demand from the 1.2515 support level. GBPUSD traders are now awaiting a raft of UK macroeconomic data this morning, which should provide the next short-term directional move. The 1.2770 level offers extended resistance, while the 1.2480...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=135.85. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=137.15. TP4: R2=137.85. Set the stoploss of these orders at breakout of S2=135.45. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6591). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning 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=133.6. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=135.15. TP4: R2=135.75. Set the stoploss of these orders at breakout of S2=133.2. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=130.7. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=131.85. TP4: R2=132.5. Set the stoploss of these orders at breakout of S2=130.4. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is back under selling pressure against the US dollar as the chances of a hard-Brexit scenario appear to have increased. A sustained break below the 1.2200 support level could trigger a major technical sell-off in the GBPUSD pair, with the yearly trading low the initial target. Overall, moves back towards the 1.2275 level are likely to be met with...
The British pound is consolidating the 1.2300 level against the US dollar after traders failed to hold price below the important 1.2275 level. Uncertainty towards Brexit developments is keeping the GBPUSD pair contained, leaving traders to scalp the short-term range. Overall, traders will be looking to short the GBPUSD pair this week on a break of the 1.2275...