The British pound has opened the new trading month on the back foot against the US dollar, following a heavy technical rejection from the 1.2730 area on Friday. UK PMI Services data and ISM Manufacturing data are the big drivers for the GBPUSD pair today. Continued weakness is likely to prompt a technical test of the key 1.2660 level, which is likely to act as a...
The British pound is softening towards key weekly support aginst the US dollar ahead of the release of GDP data from the UK economy this morning. A worse than expected GDP number could see the GBPUSD pair break the 1.2660 support level and test towards at least the 1.2610 area. If bulls can hold support the GBPUSD pair could start to edge back towards the 1.2710...
The British pound has gradually edged back under the 1.2700 level against the US dollar after bears failed to break the 1.2710 resistance level. The GBPUSD pair is currently neutral until a clear technical break from the 1.2660 to 1.2710 price range occurs. Overall, the GBPUSD pair is likely to be driven by the slew of macroeconomic data being released from the UK...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.3. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=137.1. TP4: R2=137.5. Set the stoploss of these orders at breakout of S2=136.05. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has reversed sharply from the 1.2780 level against the US dollar as UK political woes once again force the pair lower. A sustained break of the pivotal 1.2660 level could send the GBPUSD pair back towards its former weekly trading low. Bulls need to move the pair back above the 1.2710 resistance level in order to encourage intraday bulls back...
The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770 resistance level. Losses below the 1.2710 level may provoke a much deeper technical correction towards the 1.2660 support...
Pound Sterling Inggris memperoleh pijakan terhadap greenback pada hari Senin setelah indeks dolar USA menderita kerugian besar pada hari Jumat. Sebuah pergerakan berkelanjutan ke atas level ketahanan 1.2770 dapat memicu sebuah terobosan dalam pasangan GBPUSD menuju setidaknya level 1.2840. Jika para penjual gagal di kisaran area kunci ini, sebuah penurunan dan uji...
The British pound is gaining ground against the greenback Monday after the US dollar index suffered heavy losses on Friday. A sustained move above the 1.2770 resistance level could spark a breakout in the GBPUSD pair towards at least the 1.2840 level. If sellers fail around this key area a decline and technical test back towards the 1.2710 level should be...
The British pound is starting to appear overstretched around the 1.2700 level against the US dollar as a number of key downside risks for sterling still remain place. A deeper bearish correction may see the GBPUSD pair test back towards the 1.2600 level. GBPUSD bulls need to maintain price above the 1.2730 resistance level to inspire further buying towards the...
The British pound has staged a powerful upside rally against the US dollar, ahead of the Bank of England rate decision later today. The GBPUSD pair has a strong bullish bias while trading above the 1.2645 level and may soon test the 1.2700 level. Weakness below the 1.2645 level may trigger a sell-off in the GBPUSD, especially if the Bank of England offers dovish...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2605. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.267. TP4: R2=1.2705. Set the stoploss of these orders at breakout of S2=1.2585. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound remains under pressure towards the key 1.2560 level against the US dollar, ahead of the release of UK inflation data this morning. The 1.2560 level is a key pivot for the GBPUSD pair, with further intraday weakness expected if bulls fail to secure price above this area. An upcoming test of the 1.2500 level is still expected due to broad-based...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=135.8. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=136.55. TP4: R2=136.9. Set the stoploss of these orders at breakout of S2=135.4. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has slumped to its weakest level against the greenback since January 3rd this year, after bears moved the pair below the key 1.2560 level. Continued weakness below the 1.2500 level is increasingly likely as UK political uncertainty is driving the pair lower. GBPUSD bears are likely to aim for the December low, while bulls may look for a better...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=136.45. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=135.5. TP4: S2=135. Set the stoploss of these orders at breakout of R2=136.65. Stop and reverse: If trend gets reversed, buy (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.55. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=137.5. TP4: R2=137.8. Set the stoploss of these orders at breakout of S2=136.35. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has opened the new trading week under pressure against the US dollar after a heavily bearish weekly close under the 1.2600 support level. If GBPUSD sellers break the 1.2560 support level the pair could slide toward the 1.2480 region. Any intraday bounces higher are expected to find meet with strong technical selling interest from the 1.2630 to...
The British pound is once again testing towards the 1.2660 level against the US dollar after suffering another strong rejection from the 1.2700 resistance level. Bulls are struggling to keep the GBPUSD pair above the 1.2700 level, with sellers holding the upper hand while price trades below this key level. Overall, a sustained break above the 1.2710 level may...