Gbp/Usd remains bearish, 1.2150 is the key support level, break below could lead to further decline towards 1.2100.
fxstrategist
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Gbpusd
The GBPUSD continues dropping below the 1.2200 level, it could try to reach the 1.2100 level, but a pullback above the 1.2200 level is possible.
The GBPUSD continues dropping below the 1.2200 level, it could try to reach the 1.2100 level, but a pullback above the 1.2200 level is possible.
victoriajensen
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I agree about the pullback. The pair bounced off from 1.2140 after forming a double bottom at that level and it will likely continue moving to the upside for now, especially if it breaks out above 1.2200.
arigoldman
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the pair seems to consolidate ahead of triggering art. 50 this month. i'd wait to buy below 1.20.
I was following the current downtrend but have closed now - don't want to risk getting too near a potential bounce at 1.21.
Buyers at 1.21-1.20 might take price up to 1.27 - I'd love to short this again; its hard to think of GBP outpacing USD as UK goes through Brexit process.
Buyers at 1.21-1.20 might take price up to 1.27 - I'd love to short this again; its hard to think of GBP outpacing USD as UK goes through Brexit process.
Yeah but only for short-period time. As Brexit will spin off we will probably see Pound renewing historical lows.
Probably, Pound hit bottom around 1.210 level, lowest since 17th January. So far downside has been capped at 1.210 level, and on the upside as long as below 1.23 level, the risk remains on the downside.
The pound gained ground against the dollar on Wednesday. So the British currency fully recovered losses from the previous session and walked out of the narrow range in which was trading lately. Meanwhile, resistance at 1.2303 was breached and if the positive sentiment continued level at 1.2360 is also threatened. Trade was opened at a price of 1.2154 and closing rate was 1.2288. The trend was bullish of all time, peak was reached at 1.2308.
victoriajensen
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The fundamentals yesterday prompted a significant move to the upside and the pair reached a new high at 1.2370. GBP/USD is still quite bullish and it will likely continue climbing.
arigoldman
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The week turned out to be very positive for the Sterling. GBP/USD reached a high of 1.2378, but i think Art 50 triggering will put out the fire.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.2396, gaining 0.31%. I believe that support is now at around 1,2106, Tuesday's low, and resistance is likely at 1.2405, the high of Friday's trading.
I agree, the pair is still holding well within positive territory while it has temporarily lost its upward strength, bouncing around 1.238 level. 1.2400 level act as important resistance level.
Yesterday the dollar lost 114 pips against the British pound. Opening rate of the day was 1.2358, and the day began with a slight preponderance of bulls before the bears to take the bottom level of 1.2340. This forced bull market players and in the next hour first resistance level of 1.2420 was breached. High of the day was recorded at exchange rate 1.2494. At the end of session one British pound was traded for 1.2472 dollars.
Pound/dollar had a bullish momentum yesterday, formed a peak of 1.2493. Commercial bias remains bullish for now to test 1.2570 as part of the bullish scenario after the rebound of a triple bottom near 1.2135/08. Intraday support at 1.2440 is seen. A clear break below that could bring price to neutral zone for testing 1.2390. The longer, however, the price holds above 1.2300, I prefer bullish scenario at this stage, and any downside pullback should be seen as a good opportunity to buy.
