GBP/USD

The dollar rebounded against a basket of currencies on Thursday after the European Central Bank has stated that they intend to extend their asset purchase program by another nine months, while the US labor market data fell short of the forecast.
GBP/USD rose by 0.12% to 1.2641, near a nine-week high at 1.2776 on Tuesday.
 
The pair is trading almost flat, seems have lost its downward strength, but the risk remains on the downside, critical support zone lies around 1.2500/20.
 
The pair rose with over 100 pips today after forming a doji and a marubozu bar on the daily time frame and reached the resistance at 1.2670. I think that if there is a breakout above that resistance it will reach the previous high at 1.2774.
 
A day before the announcement of the lifting of the US base rate by the Fed, the dollar marked a slight increase against most currencies. Sterling traded at higher levels in the last session, but GBP/USD closed with a slight decrease of 1.2656.
 
The pound marked a volatile session against the dollar on Tuesday. Ultimately opening price was close to closing, respectively, 1.2671 and 1.2657. In the early trading hours bulls dominated, in result the resistance at 1.2704 was breached as the pair peaked for the day at 1.2727. Subsequently pound lost accumulated lead.
 
The US Federal Reserve raised its key rate to a range of 0,50-0,75 per cent per annum, and said that it is waiting for three increases in 2017.
By 20.24 GMT GBP/USD fell by 100 pips to 1,2588.
 
GBPUSD crashed following FED's decision to increase interest rates. Investors turn their attention towards the BOE monetary policy decision. The pair currently trades at 1.25493.

15.12.png
 
The pound tumbled against the dollar at the end of the week. The British currency responded to negative expectations and recorded serious loss. As a result, two key levels at 1.2505 and 1.2428 were overcomed, and meanwhile the pair made the third test of the support at 1.2366. If the downward momentum continues in the future, it will be breached. After correction upward, the pair closed the week at 1.2487.
 
Watching the 1.2568 figure. There is decent resistance there. I will be getting short just ahead of the figure.
 
The pair seems lack of directional strength, but still in the negative territory as long as the price kept below 1.2570 zone.
 
GBP/USD continued falling today. It broke below the support at 1.2350 and its next target will likely be at 1.2300.
 
Cable is giving up the ghost relinquishing 1.25 but there is real worry now we are back to probing the lows.

Holiday period never good time to trade. Take a break.

We may see 1.22s at this rate. Opportunity to buy the dips I reckon. (y)
 
The British pound recorded a moderate decline during yesterday's session after trading in a relatively narrow range. GBP/USD slid 13 pips to 1.2352, reaching extreme values respectively at 1.2390 and 1.2324. The price continues to consolidate around the support at 1.2350, but remained under downward moving averages and RSI on negative territory, implying additional losses.
 
The British pound fell against the dollar on Friday. By the end of the American session GBP/USD is trading at 1.2277, shedding 0.06%. I believe that the support is now located at the level of 1.2229, the low of today's trading, and resistance is likely at the level of 1.2504 - Monday's high.
 
The Pound pressure remain on the downside, next immediate support zone around 1.2220/30.
 
The pair continues moving to the downside indeed and it will soon test the support at 1.2220. It woul be unsurprising if it breaks below that level too.
 
Downside movement will resume after the holidays I guess together with the Dollar rally. What do you think?
 
You must log in or register to reply here.

Similar threads

B
Gbp/usd
Replies
0
Views
2K
BigInTheCity
B
G
Gbp/usd
Replies
1
Views
2K
Dispassionate
Dispassionate
fxmade2trade
Gbp/usd
Replies
0
Views
898
fxmade2trade
fxmade2trade
I
Gbp/usd
Replies
0
Views
917
ifyforex
I
I
gbp/usd journal
4 5 6
Replies
117
Views
21K
intraday_trader
I
Top