As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2475.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.254.
TP4: R2=1.2575.
Set the stoploss of these orders at breakout of S2=1.2455.
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=1.25.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2555.
TP4: R2=1.259.
Set the stoploss of these orders at breakout of S2=1.248.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level. Sterling traders are now awaiting UK retail sales data, with better than expected numbers likely to provoke a strong test of the 1.2480 area. Worse than expected UK retail sales data may see the GBPUSD pair sold back towards the...
The British pound remains extremely weak against the US dollar on Wednesday, following a breakout move below the current yearly trading low for the pair. If bulls can defend the 1.2380 level the GBPUSD pair could bounce back towards the 1.2470 level over the coming sessions. A breach of the 1.2380 level is likely to see the GBPUSD sold down towards the 1.2340...
The British pound is struggling to recover higher against the US dollar, ahead of the release of key employment and wage data from the UK economy this morning. The GBPUSD pairs weekly pivot point, at 1.2530 is the key level to watch for signs of a directional bias. A lack of interest to hold the GBPUSD pair above the 1.2530 level may prompt a rebound back towards...
The British pound has opened the new trading week on solid footing against the US dollar, following a strong weekly price around the 1.2570 level. GBPUSD bulls need to advance the pair above the 1.2610 level to encourage a test of the key 1.2660 area. Sustained weakness below the 1.2530 level may start to trouble the GBPUSD pair, placing the emphasis back on the...
GBPUSD 4hr time frame bullish. these two line's extension are at same level 1.26583. trend will be more likely zigzag than impulse.
similar pattern formed on EURUSD also.
The British pound is holding above critical support against the US dollar as the pair attempts to post a bullish weekly reversal candle and close the trading week back in the green. GBPUSD bulls ideally need to attack the 1.2660 resistance level to cement the pairs improving the short-term outlook. Sustained moves back under the 1.2505 level should be considered...
The British pound has made a recovery above the 1.2500 level against the greenback, following FED Chair Powell’s dovish testimony yesterday. Bulls need to hold price above the 1.2530 level in order to advance the GBPUSD pair back towards the 1.2580 resistance level. Failure around the 1.2530 level may prompt another round of heavy technical selling back towards...
The British pound is attempting to recover above the 1.2500 level against the US dollar, after finding interim support from the 1.2480 level on Friday. The bullish inverted head and shoulders pattern has been invalidated on the lower time frames, although the multi-year low around the 1.2430 remains unbroken. The 1.2505 level is now the key daily and weekly pivot...
The British pound continues to trade below the 1.2600 level against the US dollar in early Thursday trade, with the pair suffering three days of consecutive losses. The 1.2548 level is now interim support, with the 1.2505 level major weekly support for the GBPUSD pair. The four-hour time frame shows that a bullish inverted head and shoulders pattern is close to...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.254.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.259.
TP4: R2=1.2615.
Set the stoploss of these orders at breakout of S2=1.2505.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound has dropped sharply lower against the US dollar, following bearish comments from Bank of England Governor Mark Carney. The 1.2520 support level is likely to come into focus now that the 1.2610 level has been convincingly breached. UK PMI Services data is likely to be the main mover for the GBPUSD pair this morning, with a negative number expected...
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...
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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