Yeah I'm in the same boat with you. Although CFTC positions indicate bearish pressure builds up on Pound, dovish Carney may send the currency crashing down to 1.27
Yeah I'm in the same boat with you. Although CFTC positions indicate bearish pressure builds up on Pound, dovish Carney may send the currency crashing down to 1.27
fxstrategist
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Gbpusd
The GBPUSD is actually consolidating between the 1.2900 level and the 1.3000 level, there is no clear direction until it breaks any of those levels, but the bullish trend is still in place.
The GBPUSD is actually consolidating between the 1.2900 level and the 1.3000 level, there is no clear direction until it breaks any of those levels, but the bullish trend is still in place.
After lackluster US CPI its worth to consider some longs next week.What do you think?
arigoldman
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GBP/USD did not make any interesting moves this week. Interesting to see how the next develops.
Atilla
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Rate rise expectations put on back foot by BoE.
Excess demand likely to be stunted by falling disposable incomes as inflation outstrips wage growth.
Balance growth objectives against inflation.
This is the fundamental directive from Carney.
On top of that we have a rising BoP deficit despite fall in pound, thus we have the setup for some falls.
Why would cable rise? What's going for it?
Excess demand likely to be stunted by falling disposable incomes as inflation outstrips wage growth.
Balance growth objectives against inflation.
This is the fundamental directive from Carney.
On top of that we have a rising BoP deficit despite fall in pound, thus we have the setup for some falls.
Why would cable rise? What's going for it?
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Initial sales on Thursday clearly showed a negative attitude on the part of market participants regarding the GBPUSD currency pair. This, however, was followed by a sharp and rapid change in sentiment, which triggered the price over the 13-year moving average.
The bounce was strong, although the "cable" managed to correct only half of the downward movement from the previous day. The upward momentum remains up to date, indicating that the price has the potential to realize another ascending impulse.
The bounce was strong, although the "cable" managed to correct only half of the downward movement from the previous day. The upward momentum remains up to date, indicating that the price has the potential to realize another ascending impulse.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2889, gaining 0.02%. I believe that support is now at around 1.2845, the low of today's trading, and resistance is likely to come in at 1.2992, Monday's high.
victoriajensen
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GBP/USD finally found some resistance at 1.3050 and bounced off from that level after forming a shooting star candlestick on the four-hour time-frame. Next target is likely 1.2940.
Pound / dollar had momentum up yesterday, making a peak at 1.2990. The trade signals are upward, but I note that we need a clear breakthrough over the key 1.2985 resistance for the sequel to the bullish test scenario at 1.3050 or higher. We have immediate support at 1.2930. A clear breakthrough underneath it could take the price to a neutral trading area testing 1.2880.
The pound recorded a positive session against the dollar on Wednesday. So the pair came out of the narrow range that the last few days have not been changing. Resistance at 1.2987 was hit for a moment, but very quickly the dollar compensated for the losses and the pair finished below the key levels. Trading on Wednesday was opened at 1.2918, the trend being bullish in most of the time. Peak for the day was reached at 1.2989 and the final was 20 pips lower.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3037, gaining 0.75%. I believe that support is now at around 1.2864, Tuesday's low, and resistance is likely at 1.3051, Thursday's high.
