The British pound is trading on the back foot against the US dollar, ahead of the release of important second-quarter GDP data from the United Kingdom economy. A break below the 1.2080 level will start to put the psychological 1.2000 support level in focus. Better than expected United Kingdom GDP data may see a strong rally back towards the pivotal 1.2250...
The British pound is back under downside pressure against the US dollar after the pair suffered a hard technical rejection from the 1.2200 resistance level. The GBPUSD pair may test back towards the 1.2080 level as upside momentum starts to fade again. Overall, traders may start to exit positions ahead of the release of the main weekly market mover for sterling,...
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=130.3. TP4: R2=130.95. Set the stoploss of these orders at breakout of S2=128.1. 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 (129.06). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPJPY is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
The British pound remains vulnerable to further losses against the US dollar this week, following another heavily bearish weekly price close. Negative UK PMI services data later today could push the GBPUSD pair lower for a major test of the 1.2000 support level. In the near-term, if sterling bulls can regain control, they are likely to face strong resistance from...
The British pound has staged a bounce from the 1.2080 level against the US dollar, following a string of softer US macroeconomic data releases. Minor bounces back towards the 1.2200 resistance level may occur, although further downside towards the 1.2000 is still expected. Traders are also focused on the US monthly jobs report later today, with any downside shocks...
The British pound has taken a heavy tumble from the 1.2200 level against the US dollar, leaving the multi-year low for the pair exposed. A bearish breakdown below the 1.2110 level should see the GBPUSD pair testing towards the 1.1985 to 1.2000 support region. The UK manufacturing PMI later today and Bank of England rate decision could also be bearish for the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.221. TP4: R2=1.2245. Set the stoploss of these orders at breakout of S2=1.21. 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=131.6. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=132.85. TP4: R2=133.3. Set the stoploss of these orders at breakout of S2=131.5. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has opened the week on the back foot against the greenback after a heavily bearish price close below its former yearly trading low. The 1.2350 level offers the most significant technical support for the GBPUSD pair below the 1.2380 level. Bulls have major work ahead to move the GBPUSD pair back the 1.2525 resistance level to shift the bearish...
The British pound is starting to lose its recent gains against the US dollar after sellers forced the pair below the 1.2480 support level. The GBPUSD pair may launch its next upside move towards the 1.2550 level if bulls can hold price above the 1.2440 level. Bears need to hold price below the 1.2440 level to encourage more traders to enter back into the GBPUSD...
The British pound staged a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level. The GBPUSD pair could start to test towards at least the 1.2600 level if bulls break through the 1.2525 resistance later today. Sellers need to hold price below the 1.2480 level to change the intraday...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=134.65. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=135.35. TP4: R2=135.85. Set the stoploss of these orders at breakout of S2=134.4. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.8955). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURGBP is in a range bound and the beginning of downtrend is expected. . Price is below WEMA21, if price rises more, this line...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.8571). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPNZD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
The British pound remains under downside pressure against the US dollar after bears broke through the 1.2440 support zone on Tuesday. The current monthly and yearly low is the key level that GBPUSD sellers need to soon break, or short-term sellers may start to lose patience. The 1.2480 level is the immediate upside barrier that bulls need to break in order to...
The British pound remains in the doldrums against the US dollar on Tuesday as the pair continues to meet fresh waves of selling around the 1.2500 resistance area. The GBPUSD pair could fall sharply if the 1.2440 support level is broken over the coming sessions. To the upside, bulls need to move price above the 1.2660 level to change the negative technical bias...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2455. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.2515. TP4: R2=1.2555. Set the stoploss of these orders at breakout of S2=1.2435. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...