The British pound fell against the dollar on Friday. By the close of US trading GBP/USD was trading at 1.2232, shedding 0.18%. I believe that the support is now located at the level of 1.2134, Monday's low, and resistance is likely at the level of 1.2334 -the maximum of Wednesday.
Atilla
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I think 1.23+ got rejected.
With an almost certain Fed rate hike pencilled in for December I can't see much of a rise in cable. Especially in light of an entrenched hard Brexit looming behind closed doors.
Thus we are likely to probe lows as the market dishes out her own views.
Few banks reporting this week which may sway market sentiment but cable looking bearish on balance.
With an almost certain Fed rate hike pencilled in for December I can't see much of a rise in cable. Especially in light of an entrenched hard Brexit looming behind closed doors.
Thus we are likely to probe lows as the market dishes out her own views.
Few banks reporting this week which may sway market sentiment but cable looking bearish on balance.
The pound registered a slight decrease against the dollar on Friday. The price of the opening session was close to closing, respectively, 1.2250 and 1.2221. The trend was volatile and early bearish sentiment prevailed. The pair hit bottom at 1.2170, but the pound subsequently recovered partial losses. Short-term expectations remain in favor of the US currency. In this case the support at 1.2079 could be tested soon.
Pound / dollar was volatile last week. Trade signals are neutral. Initial support is at 1.2170 followed by 1.2135. Intraday resistance is seen at 1.2240, break of which could trigger further bullish pressure testing 1.2300 / 30. Overall I still prefer a bearish scenario but the more price remains above 1.20, the bullish correction / reversal scenario of the formation hammer should remain valid.
Dominic
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GBP after falling doesn't wish to go back up. I believed at the beginning that after the first fall that it would reclaim it's position right away, but it fell even harder, and I lost money at it. But I think it will make a turnaround of the trend. For now though, I won't be entering any deals )
Pound/dollar made another indecisive movement last week. The bias is neutral for now. Immediate resistance is at 1.2225. A clear break above that area could trigger further bullish pressure for testing 1.2270 - 1.2300. Intraday support is 1.2150, whose breach could lead to downward pressure for testing 1.2080 but important support remains at 1.2000. The more price remains above 1.20, the bullish correction/reversal scenario of the formation hammer should remain valid.
The pound reported a second consecutive day of growth on Monday. The pair climbed by 53 pips to a closing price of 1.2238. The session took place in the final values 1.2248 and 1.2143. Overall pound closed sixth consecutive month of losses. The currency lost nearly 15.5% against the US dollar since Brexit. The Range in the couple of early October remains valid. A break of moving averages would open the possibility of testing the upper boundary at 1.2320.
arigoldman
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Knee jerk reaction still...
The British Pound was up against the US Dollar on Friday. By the close of US trading GBP USD was trading at 1.2517, gaining 0.44%. I believe that the support is now located at the level of 1.2141, Monday's low, and resistance is likely at the level of 1.2557 - the maximum of Friday's trading.
