The British pound is holding onto recent gains against the greenback as traders await the Bank of England monetary policy decision later today. Further bullish advancement above the 1.2530 level should provoke a test of the 1.2600 level. A loss of the 1.2425 support region is likely to see the GBPUSD suffering a deeper pullback towards the 1.2385 level.
The...
The British pound has fallen back towards the 1.2400 level against the US dollar, reversing negative MACD price divergence on the lower time frames. GBPUSD bulls still have the upper hand this week while price trades above the pivotal 1.2385 level. Wednesday remains a crucial day for sterling as traders await the release of UK CPI inflation data and the FOMC rate...
The British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any...
The British pound has recovered back above the 1.2500 level against the US dollar after briefly moving lower following the Bank of England rate decision. The short-term bullish tone towards the GBPUSD pair suggests a move towards the 1.2600 level is coming. Overall, sterling is likely to post another week of strong trading gains, further encouraging traders to buy...
The British pound is holding onto the latest positive factors towards the buck as merchants await the Financial institution of England financial coverage resolution later right this moment. Additional bullish development above the 1.2530 degrees ought to provoke a take a look at the 1.2600 degrees. A lack of the 1.2425 help area is prone to see...
The British pound is consolidating around the 1.2500 level against the US dollar ahead of the release of key UK inflation data later this morning. GBPUSD bulls have the upper hand on an intraday basis while price trades above the important 1.2425 level. Overall, the GBPUSD pair is increasingly bullish with traders continuing to buy any pullbacks towards key...
The British pound has moved towards the 1.2500 level against the US dollar, with the pair now reaching its overall short-term bullish target. The thirty-minute time frame is currently showing bearish MACD divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish target for the GBPUSD pair, although it appears unlikely that this...
The British pound is starting to give back a portion of its recent gains against the US dollar after the pair failed to rally to a new monthly high on Wednesday. The British pound is likely to be affected by the ECB rate decision, particularly EURGBP cross-flows. Overall, a more dovish ECB move today could help to support the British pound if traders start to shun...
The British pound has moved within touching distance of the 1.2400 level against the US dollar, following a strong rally from the 1.2250 level. The four-hour time frame shows that the 1.2480 level is top-end resistance if GBPUSD bulls gain control above the 1.2400 level. Weakness back under the 1.2350 level could prompt a test of the 1.2310 support level, where...
The British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the...
Buy (limit) above S1=1.2035.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2135.
TP4: R2=1.217.
Set the stoploss of these orders at breakout of S2=1.196.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196.
In this situation, there is an expectation to reach the...
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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