GBP/USD

[Poppyseed]

Such high volatility around the GBP/Usd, Brexit uncertainty continues to be the main focus. The pair seems has lost its upward strength while still staying the positive territory. Support level can be found around 1.2870, on the upside resistance lies around 1.2980.

 

[Poppyseed]

GBP/Usd is consolidating its recent gains, showing no directional strength for the short-term, I'm staying sideline for now.

 

[Wilson80]

The GBP/USD seems to be contained between 1.3020 (resistance) and 1.2791 (support). But looks like the 50-day moving average is keeping the price down, however if it breaks above it I'll open a long position.

 

[Poppyseed]

Softer Brexit is becoming more real, hopes for ''deal'' sent GBP/Usd straight above 1.30 level. Upward momentum seems limited to 1.3050 level, the pair is expected to continue its consolidation on the upside.

 

[Josh7]

I think they would agree on soft Brexit, both parties need each other.

 

[Wilson80]

The GBP/USD seems to be contained between 1.3020 (resistance) and 1.2791 (support). But looks like the 50-day moving average is keeping the price down, however if it breaks above it I'll open a long position.

Well got in yesterday long @ 1.2975 and I see it going toward 1.3185 on a daily chart.

 

[Josh7]

The Sterling is approaching a strong resistance level at 1.3120. I think that's a good chance to go short.

 

[Wilson80]

Well got in yesterday long @ 1.2975 and I see it going toward 1.3185 on a daily chart.

So far so good :clap:, looking to hit my target today or in the worst case scenario at the beginning of next week.

 

[Wilson80]

Looks like is losing some steam, moved the stop loss to breakeven @ 1.2975 just in case hopefully my target @ 1.3185 will hit this week.

 

[fxstrategist]

Rally continues on the GBPUSD

The GBPUSD accelerates its bullish trend above the 55 day EMA and it may head to the 1.3300 level where we can find the 200 day EMA and the 55 week EMA. In case of a pullback, the 1.3000 level may act as support.

 

[Josh7]

GBPUSD broke out of the resistance level. If bears are able to bring it down below 1.31 we will again enter into the downward trend channel.

 

[Poppyseed]

Focus turns to UK inflation data on Wednesday, the bullish trend won't give up as long as the pair stay above 1.3055 level.

 

[Josh7]

Sharp move to the upside but I think it's not sufficient to sustain the upside momentum.

 

[Poppyseed]

Brexit developments continue to be the main driver of the pair, regardless of the inflation data GBP/Usd seems to start gaining downward traction. Immediate support can be found at 1.3090/95 zone.

 

[fxstrategist]

GBPUSD direction-less

The GBPUSD exhausts its bullish momentum around the 1.3146 level, which is right in between the 55 day EMA and the 200 day EMA. Basically, the 1.3000 level may still act as support and the 1.3300 level may act as resistance, specially when around that zone we can also find the 55 week EMA.

 

[Wilson80]

Looks like is losing some steam, moved the stop loss to breakeven @ 1.2975 just in case hopefully my target @ 1.3185 will hit this week.

Target reached :clap: and 21 pips in the bag.

 

[Josh7]

GBPUSD broke the resistance, next level is 1.3360, will be looking to open short there.

 

[gka]

GBPUSD broke the resistance, next level is 1.3360, will be looking to open short there.

What resistance was broken? Can you please give a value.

As per the thread

"Predicting future FX support and resistance levels using mathematics"

for GBP-USD levels

I went short last night about 1.3283 which is the highest weekly sentiment level on the VRM chart , the last level of weekly bearish resistance. My trade is still falling.

 

[Wilson80]

Amazing short gka unfortunately I was not brave enough to push the trigger @ 1.3280 where I have a 76.4 Fibonacci retracement (from June high to August low). Good call gka.

 

[neenan1]

What's a VRM chart?
Sorry, I'm still really new to this