The British pound has moved towards the 1.2500 level against the US dollar, with the pair now reaching its overall short-term bullish target. The thirty-minute time frame is currently showing bearish MACD divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish target for the GBPUSD pair, although it appears unlikely that this...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.63415). 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....
The British pound is starting to give back a portion of its recent gains against the US dollar after the pair failed to rally to a new monthly high on Wednesday. The British pound is likely to be affected by the ECB rate decision, particularly EURGBP cross-flows. Overall, a more dovish ECB move today could help to support the British pound if traders start to shun...
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=133.85. TP4: R2=134.4. Set the stoploss of these orders at breakout of S2=132.15. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any...
The British pound has moved within touching distance of the 1.2400 level against the US dollar, following a strong rally from the 1.2250 level. The four-hour time frame shows that the 1.2480 level is top-end resistance if GBPUSD bulls gain control above the 1.2400 level. Weakness back under the 1.2350 level could prompt a test of the 1.2310 support level, where...
The British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.2200). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPUSD 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=1.214. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.223. TP4: R2=1.227. Set the stoploss of these orders at breakout of S2=1.211. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has recovered above the 1.2000 level against the US dollar after bouncing sharply from the 1.1960 support level. United Kingdom politics is generating extreme volatility in the GBPUSD pair, causing price to whipsaw on the latest Brexit headline. Bulls need to keep price above the 1.2020 level to encourage the notion that a medium-term price floor...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2035. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2135. TP4: R2=1.217. Set the stoploss of these orders at breakout of S2=1.196. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=128.65. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=127.5. TP4: S2=126.85. Set the stoploss of these orders at breakout of R2=128.85. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
The British pound has opened the new trading week below the important 1.2195 level against the US dollar, following renewed demand the greenback. Traders are now awaiting the release of the United Kingdom Manufacturing PMI, which could provoke GBPUSD volatility. Weaker UK PMI data could prompt a test of the 1.2100 support level, while a better than expected number...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=129.3. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=130.05. TP4: R2=130.7. Set the stoploss of these orders at breakout of S2=129. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is holding back above the 1.2200 level against the US dollar after quickly reversing from the 1.2150 level. The well-flagged neckline of the head and shoulders pattern on the one-hour time frame is found at the 1.2195. The four-hour time frame tells a different story, with a bullish pattern still holding an upside projection close to 1.2500. The...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=129. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=130.05. TP4: R2=130.7. Set the stoploss of these orders at breakout of S2=128.55. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has surged to its highest trading level since late-July against the US dollar as dip-buyers retain control of the pair. The GBPUSD pair has hit its near-term bullish target, at 1.2310, although the larger upside objective is closer to the 1.2500 level. Bulls will need to hold price above the 1.2310 level to encourage additional buying towards the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=129.35. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=130.4. TP4: R2=130.7. Set the stoploss of these orders at breakout of S2=129. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...