The pound-dollar currency pair recorded a volatile session before the parliamentary elections in the UK. The pound lost 6 pips after the opening day of the day was 1.2957, and the last day's quote remained 1.2951. Today's extreme values remained respectively at 1.2977 and bottom at 1.2907.
Atilla
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I don't feel hung parliament will effect sterling much as the counter side of a potential softer Brexit on balance will see it rise.
I reckon 1.26-1.28 range for now and on balance favour the upside.
More likely to see 1.30s again than 1.20s imo.
:whistling
I reckon 1.26-1.28 range for now and on balance favour the upside.
More likely to see 1.30s again than 1.20s imo.
:whistling
arigoldman
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I'm expecting a bullish move to pre-election levels.
victoriajensen
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For now GBP/USD remains very bearish and it will likely test once again the last low it reached after the election at 1.2634.
willissom1
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My (GBPUSD) Position
Entry Point: Sell at 1.2725
Take Profit: 1.2694
Stop Loss: 1.2766
Date: 12-06-2017 Status: Close
Entry Point: Sell at 1.2725
Take Profit: 1.2694
Stop Loss: 1.2766
Date: 12-06-2017 Status: Close
victoriajensen
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GBP/USD did retest the support at 1.2634 and formed a double bottom at that level before bouncing off from it. Next target is likely at 1.2750 - 1.2760.
arigoldman
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GBP/USD looks bullish, maybe the US dollar will depreciate after the news release at 2PM EST.
The British pound recorded a volatile session against the US dollar on Thursday. The currency pair opened at 1.2750 and added only 4 pips. Daily extreme values were reached at 1.2690 and 1.2794 respectively. The outlook remains neutral, with the 1.2700 and 1.3090 levels retaining a key role in the short term.
Pound / dollar had another unsettling movement yesterday. Trade signals remain neutral in the near future. The upcoming pin bar, which appeared on June 9, remains valid, but a clear break above 1.2780 is needed to confirm the bullish scenario with targets to 1.2900 - 1.3000 / 50. Immediate support is seen at 1.2725, whose breakthrough can lead to future downward pressure. But only a clear break below 1.2634 will cancel the upside-down scenario on the pin bar, with the first downside target in the 1.2500 area.
I think now its time to buy the Pound as three members of BoE voted for rate hike as inflation speeds up too quickly. Moreover May party will likely clinch the deal with some small party to present majority in parliament and then successfully trigger the exit process.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2782, adding 0.20%. I believe that support is now at around 1.2636, Monday's low, and resistance is likely at 1.2818, the maximum of Wednesday.
