As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.318.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3085.
TP4: S2=1.306.
Set the stoploss of these orders at breakout of R2=1.321.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.3010). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a uptrend and the continuation 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=1.2815.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2875.
TP4: R2=1.29.
Set the stoploss of these orders at breakout of S2=1.277.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has moved to a fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.297.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.301.
TP4: R2=1.3055.
Set the stoploss of these orders at breakout of S2=1.295.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level...
The British pound continues to firm above the 1.2900 level against the US dollar, following a bullish weekly and monthly price close. Technical analysis shows that GBPUSD buyers have the upper hand while price closes above the 1.2890 level on a daily basis. Risk-averse traders may await a move above the 1.3000 level in order to confirm a range break and a...
The British pound has staged a strong rebound from the 1.2830 level against the US dollar after selles failed to break under the current weekly trading low. Going forward, a series of bullish price close is needed above the 1.2900 level is needed to encourage medium-term buying. A new high above the important 1.2960 level would also be extremely bullish for the...
The British pound is testing key support around the 1.2840 support level against the US dollar, following bearish news surrounding the upcoming UK election. Sellers need to break the 1.2820 level or the GBPUSD pair will most likely start to rally back towards the 1.2900 level. Overall, daily price closes above the 1.2940 level should be considered a strong sign...
The British pound is on the move against the US dollar, following a bullish reversal back above the 1.2900 resistance level. Going forward, GBPUSD short-term dip-buyers are expected to move in from the technically important 1.2880 support level. Overall, traders have few reasons to be bearish towards the GBPUSD pair over the medium-term while price trades above...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.286.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.293.
TP4: R2=1.297.
Set the stoploss of these orders at breakout of S2=1.284.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is attempting to recover from critical support against the US dollar, following an extended pullback towards the 1.2840 level. The GBPUSD pair has to rally from current trading levels to avoid a major technical test of the 1.2770 support. Overall, a daily price close above the 1.2940 level would confirm that the GBPUSD pair still intends to test...
GBPUSD, often referred to as “The Cable”, a foreign exchange term used to describe the British pound vs the US dollar, is one of the oldest traded currency pairs. In July of 1866, after an earlier failed attempt, the first reliable exchange rate between the British pound and the US dollar was transmitted between the London and New York Exchanges. Optic fibre cables accompanied by satellites handle the Transatlantic communications today.
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