The dollar pulled 84 pips out of the pound. At the beginning of the day one British pound was exchanged for $ 1.3198, and the course headed for resistance at 1.3250. By noon the bulls managed to break through and peaked at 1.3265, but three hours later the bears took their bottom at 1.3112. The last quotation for the day was 1.3137.
arigoldman
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GBP/USD has moved a bit to the downside. Possibly market sentiment could switch from bullish to bearish for the week. The US dollar seems strong.
fxstrategist
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Gbpusd
The GBPUSD breaks below the 1.3000 level as the Dollar rallies on better than expected jobs report and the Pound drops on weaker consumer spending. The pair may drop to the 1.2900 level, but the 55 day EMA may act as support.
The GBPUSD breaks below the 1.3000 level as the Dollar rallies on better than expected jobs report and the Pound drops on weaker consumer spending. The pair may drop to the 1.2900 level, but the 55 day EMA may act as support.
Pound / dollar was indecisive yesterday. Expectations remain bearish in the short term to test the 1.2930 - 1.2865 zone as part of the downstream phase after the breakthrough under the trendline support line. Resistance for the day is 1.3028 (yesterday's peak). A clear break above this level could take the price to a neutral zone with testing at 1.3075 - 1.3125. Generally, I am neutral on this pair, but a clear break above 1.3125 should re-activate the upward model.
The pound registered a slight increase against the dollar on Wednesday. The British currency broke off the negative trend of the day before, but a key breakthrough was not reached. If the Bears will win again, the first support at 1.2930 will be tested. The session was opened at a rate of 1.2990 and the closing price was 1.3003. The trend was volatile, as the peak of the day was reached at 1.3027.
arigoldman
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GBP/USD did not do much, hopefully more volatility is coming.
British pound direction.
Pound falls against US dollar in the last deep wave (5). In a current time
all we could talk about is "When and at what level to SELL GBP ?"
Numerous ending signs point to the end of correctional rise in wave (4)
and to the start of a new fall in wave (5). Wave (5) should fall below
established bottom of wave (3).
Any high pullback is suitable to SELL GBP against USD. This SELL should
be held all wave (5) down and closed 1 point below wave (3) bottom
to avoid any risk. Moreover, we can enforce our SELL position later
using floating profit.
Note how high our stop loss is. Keep in mind, that any counter move
toward wave (4) top should not deplete more, than 30%-40% of initial
value of your trading account.
Possible count of a first step down, upward pullback in a
second wave is possible, but we do not rely much upon a high cor-
rection.
second wave is possible, but we do not rely much upon a high cor-
rection.
Track our short term review to enforce your SELL position
and to close it with a profit.
and to close it with a profit.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.3009, gaining 0.24%. I believe that support is now at around 1.2940, the low of Friday's trading, and the resistance was likely to come in at 1.3063, Monday's high.
brewski1984
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So what's your trade?
The British pound recorded a decline against the US dollar on Monday. The session began at 1.2998 and ended 35 pips lower. Daily extreme values were reached at 1.3021 and 1.2956 respectively. The currency pair remains at risk of further decline, with the target at 1.2700. For a change in direction, a break of 1.3090 will be needed.
The British pound recorded a significant decline against the US dollar on Tuesday. The session began at 1.2963 and ended at 1.2868. Graphics continued to grow below moving averages, while the RSI remained in the resale area. If the bearish trend keeps, the pair will head to the first support at 1.2700.
victoriajensen
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GBP/USD is testing the support at 1.2840 and a breakout below that support level could lead to a further drop towards the next support 1.2790 - 1.2800.
I agree, bearish pressure remains.
