As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=131.45. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=132.25. TP4: R2=132.5. Set the stoploss of these orders at breakout of S2=131.25. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has moved towards the 1.2400 level against the US dollar, following bullish news surrounding British PM Boris Johnson’s new Brexit proposals. The GBPUSD pair has a strong bullish bias while trading above the 1.2325 level, with the 1.2470 level currently acting as extended weekly resistance. Overall, the latest rally has also helped to complete...
The British pound has recovered towards the 1.2300 level against the US dollar after traders bought the pair from the 1.2200 level over positive Brexit headlines. The recent decline has helped the GBPUSD pair create an extremely large head and shoulders pattern across the lower time frames. Overall, the latest bounce higher has the potential to form a right-hand...
The British pound is trading under the 1.2300 level against the US dollar as traders remain cautious ahead of key US and UK data releases this week. The four-hour time frame shows that the GBPUSD pair could bounce towards the 1.2375 technical area if a near-term recovery occurs. To the downside, a move below last weeks trading low could see a quick bearish drop...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=132.45. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=133.4. TP4: R2=133.95. Set the stoploss of these orders at breakout of S2=132.3. 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 (1.2233). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCHF 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....
The British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level...
The British pound has recovered from the 1.2300 level against the US dollar, with the move higher extending towards the 1.2365 level. With the short-term bearish target for the GBPUSD pair possibly hit, directional traders may be sidelined until next week. In the immediate term, if the 1.2300 level is broken the GBPUSD pair is likely to find strong support from...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=132.85. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=133.85. TP4: R2=134.25. Set the stoploss of these orders at breakout of S2=132.65. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has staged a recovery against the US dollar after finding strong technical support from the 1.2410 level on Tuesday. Bulls still need to recover price above the 1.2510 resistance area to secure the GBPUSD pairs short-term prospects. Overall, downside risks still remain, with the 1.2300 level the likely bearish target if bulls fail to overcome the...
The British pound remains under downside pressure against the US dollar on Tuesday, with a bearish reversal pattern forming across the lower time frames. Current short-term technical analysis shows that the GBPUSD pair could fall towards the 1.2310 region if the 1.2385 level is broken. A sustained move above the 1.2510 level should be taken as a bullish sign for...
The British pound has recovered back above the 1.2500 level against the US dollar after briefly moving lower following the Bank of England rate decision. The short-term bullish tone towards the GBPUSD pair suggests a move towards the 1.2600 level is coming. Overall, sterling is likely to post another week of strong trading gains, further encouraging traders to buy...
The British pound is holding onto recent gains against the greenback as traders await the Bank of England monetary policy decision later today. Further bullish advancement above the 1.2530 level should provoke a test of the 1.2600 level. A loss of the 1.2425 support region is likely to see the GBPUSD suffering a deeper pullback towards the 1.2385 level. The...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=134.8. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=135.7. TP4: R2=136.4. Set the stoploss of these orders at breakout of S2=134.6. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is consolidating around the 1.2500 level against the US dollar ahead of the release of key UK inflation data later this morning. GBPUSD bulls have the upper hand on an intraday basis while price trades above the important 1.2425 level. Overall, the GBPUSD pair is increasingly bullish with traders continuing to buy any pullbacks towards key...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=134.5. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=136. TP4: R2=136.6. Set the stoploss of these orders at breakout of S2=134. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has fallen back towards the 1.2400 level against the US dollar, reversing negative MACD price divergence on the lower time frames. GBPUSD bulls still have the upper hand this week while price trades above the pivotal 1.2385 level. Wednesday remains a crucial day for sterling as traders await the release of UK CPI inflation data and the FOMC rate...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=133.55. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=134.55. TP4: R2=135.15. Set the stoploss of these orders at breakout of S2=133.35. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...