The British pound has reversed sharply from the 1.2750 level against the US dollar after UK Parliament was unable to block a hard-Brexit on Wednesday. The bullish pattern on the four-hour time frame still remains valid, with the 1.2655 level the foremost support zone. Bulls need to move price back above the 1.2710 level to install the intraday bullish sentiment...
The British pound is struggling to reclaim the 1.2700 level against the US dollar after yesterday’s much weaker set of data points from the UK economy. However, dip-buying demand for sterling still remains present, with bulls still maintaining the upper-hand while price holds above the 1.2660 level. GBPUSD bulls are likely to place stops around the 1.2600 level...
The British pound has so far found strong technical resistance from the 1.2762 level against the US dollar, with price falling below neckline support. If the GBPUSD pair holds below the 1.2747 level we may see the start of a complex inverted head and shoulders pattern forming across the four-hour time frame. Overall, traders may also be feeling cautious ahead of...
The British pound has fallen back under the 1.2700 level against the US dollar in early Thursday trade after bulls failed to break the former key trading high, at 1.2747. However, yesterday’s move higher has helped to create a bullish inverted head and shoulders pattern on the four-hour time frame. All moves lower in the GBPUSD pair are expected to find strong buy...
The British pound is still trading tentatively above the 1.2600 level against the US dollar, despite a minor rebound from the 1.2580 area on Thursday. The four-hour time frame is showing that the bearish pattern can cause the GBPUSD pair to slide towards the 1.2450 level. The monthly price close for the GBPUSD pair will be key today alongside the release of US...
The British pound has come under heavy downside pressure against the US dollar, following another bearish intraday reversal on Wednesday. The four-hour time frame is showing that the GBPUSD pair is close to the neckline of a large head and shoulders pattern. A break below the 1.2600 level will set-off the bearish pattern, which holds a downside target close to the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=138.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=138.95. TP4: R2=139.55. Set the stoploss of these orders at breakout of S2=137.8. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has staged a minor technical recovery against the US dollar after the pair quickly fell towards the 1.2623 level over reports that British PM Theresa May could soon quit. Further medium-term weakness is still expected while the GBPUSD pair trades below the 1.2660 level, with the 1.2550 level is still the overall bearish target. Bulls will need to...
The British pound has reversed back towards 1.2700 level against the US dollar after briefing spiking above the 1.2800 after reports that the UK may hold a second Brexit referendum. The GBPUSD pair has a bearish intraday bias while trading below the 1.2756 level and may remain weak due to uncertainty over the European elections. Technical indicators on the...
The British pound has weakened back towards the 1.2700 support level against the US dollar after the pair found strong selling interest from the 1.2756 level on Monday. Technical selling in the GBPUSD pair is likely to accelerate if bears can force price below the 1.2700 level. The 1.2662 level is the major weekly support level to watch below the 1.2700, with the...
The British pound has opened the new trading week on soft footing against the US dollar, with the pair now slipping closer to the 1.2700 level. If the 1.2700 support level is breached, GBPUSD sellers are likely to target towards the important 1.2662 level. Overall, the GBPUSD pair is vulnerable to heavy technical selling while trading below the pivotal 1.2772...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=140.15. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=141.2. TP4: R2=141.4. Set the stoploss of these orders at breakout of S2=140. 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 resistance line (1.9635). 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 downtrend is expected. . Price is below WEMA21, if price rises more, this line can act as dynamic...
The British pound has erased its strong weekly gains against the US dollar following renewed demand for the greenback amongst investors. The 1.2890 level is the key downside level to watch intraday, with technical selling likely to increase if bears hold price below this key area. Bulls now need to move price above the 1.2950 level to stabilize the GBPUSD pair...
The British pound has started to recover higher against the US dollar ahead of the release of important United Kingdom Wage and Earnings data later this morning. The GBPUSD pair has a bullish intraday bias while trading above the 1.3064 level and could start to target the 1.3100 level. If the GBPUSD pair falls below the 1.2990 level, sellers are likely to target...
The British pound is coming under renewed downside pressure against the US dollar on Wednesday due to political uncertainty in the United Kingdom. The GBPUSD pair is heavily bearish while trading below the 1.3064 and may weaken towards the 1.2990 level. If buyers hold price above the 1.3064 level the GBPUSD pair may drift back towards the 1.3100 resistance...
The British pound is trading above to the 1.3100 level against the US dollar in early Tuesday trade as the pair attempts to recover back towards the 1.3174 resistance level. The GBPUSD pair still has a bullish weekly trading bias while trading above the important 1.3064 level. Traders remain cautious about GBPUSD positioning, due to the much-anticipated release of...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.30793). 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...