The pound recorded choppy trade against the dollar on Thursday. Ultimately opening price was close to closing, respectively, 1.2437 and 1.2446. The trend has been volatile, and the difference between the highest and lowest value for the day was 93 pips. If the pound justify positive expectations, the pair will test resistance at 1.2529 soon.
arigoldman
Established member
- Messages
- 626
- Likes
- 10
Out of this for now...
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
GBP/USD bounced off 1.2530 after forming a shooting star candlestick on the four-hour time-frame and continued falling. A breakout below the support at 1.2380 will likely lead to a further move to the downside towards 1.2300.
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
Gbpusd
The GBPUSD is still consolidating on the daily chart between the 1.2300 level and the 1.2600 level.
The GBPUSD is still consolidating on the daily chart between the 1.2300 level and the 1.2600 level.
Pound / Dollar had a bullish momentum yesterday, topped at 1.2525. The outlook is bullish in nearest term for testing 1.2600. Initial support is at 1.2455, whose breach could lead price to neutral trading zone testing 1.2400 but as long as the pair holds above 1.2330, I prefer bullish scenario at this stage.
The British pound recorded a modest rise against the US dollar on Wednesday. After a volatile session, the pound added only 15 pips at a closing price of 1.2505. The pair bounced from support at 1.2460 and if prices continue to rise pound will move to the first resistance at 1.2790.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
Having blown our tgt of 1.26 now scratching head thinking what next???
I'm going to go with 1.26 being new PP with S & R at 1.25 and 1.27 respectively.
We need to hold these levels for a while to build a base for the next lurch forward I reckon. 1.28 doesn't seem unreasonable either.
Maintaining bullish bias...
I'm going to go with 1.26 being new PP with S & R at 1.25 and 1.27 respectively.
We need to hold these levels for a while to build a base for the next lurch forward I reckon. 1.28 doesn't seem unreasonable either.
Maintaining bullish bias...
SteelRockwell
Newbie
- Messages
- 7
- Likes
- 0
When are we going to here news from the US about interest rates?
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
It did recover the gap, but the pair is very undecided at the moment, whether it will continue climbing remains to be seen.
The British pound recorded a fall against the dollar on Tuesday, breaking a five-day winning streak. Price managed to reach more than two-month high at 1.2774, but ultimately GBP/USD depreciated by 53 pips for the day to 1.2677. The price remains above the rising moving averages, as RSI lost positions and levels around Tuesday's high now represents significant resistance that puts the bulls on test.
The British pound continued to loose against the dollar for a second day on Wednesday. The pair has depreciated by 53 pips to 1.2624, and traded within the extreme values 1.2682 and 1.2569. Poor manufacturing data from Britain in October reflected on the price, which found support from their 50-period average. The index of relative strength lost positions though, which gives extra confidence of the Bears.
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
Cable very much linked to Brexit.
Brexin - cable rally
Brexit - cable drop
Positive noises from cabinet and parliament likely to see support for cable to rise imo. Fed rate hike already in the price. Any watering down or no rise from Fed will further see uplift.
PP - 1.26 with S/R @ 1.25 & 1.27.
It's itching to take out 1.28 and if the PMI numbers were a little better it may well have.
Maintaining bullish bias.
Brexin - cable rally
Brexit - cable drop
Positive noises from cabinet and parliament likely to see support for cable to rise imo. Fed rate hike already in the price. Any watering down or no rise from Fed will further see uplift.
PP - 1.26 with S/R @ 1.25 & 1.27.
It's itching to take out 1.28 and if the PMI numbers were a little better it may well have.
Maintaining bullish bias.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
GBP/USD bounced off the support at 1.2600 after forming a doji candlestick on the four-hour time-frame and continued climbing. It's currently testing the resistance at 1.2680 and a breakout above that level will likely lead to a further move to the upside towards the previous high at 1.2770.
Cable very much linked to Brexit.
Brexin - cable rally
Brexit - cable drop
Positive noises from cabinet and parliament likely to see support for cable to rise imo. Fed rate hike already in the price. Any watering down or no rise from Fed will further see uplift.
PP - 1.26 with S/R @ 1.25 & 1.27.
It's itching to take out 1.28 and if the PMI numbers were a little better it may well have.
Maintaining bullish bias.
yeah there were many tries to break resistance, I think after ECB the door up will open..
Atilla
Legendary member
- Messages
- 20,848
- Likes
- 4,028
Yes I think so too. At least another burst.
I reckon it's consolidating building support for the next leg up. I expect 1.25 will act as strong support as it was resistance on the way up.
