GBP/USD

[victoriajensen]

GBP/USD reached a high at 1.3080 before it bounced off from that level and formed a shooting star candlestick on the four-hour time-frame. If the signal for a move to the downside is valid there will likely be a drop to 1.2900.

 

[andengireng]

GBPUSD today 7 September 2017 is still moving in a bullish bias. As a trading strategy based on forex technical analysis today you can look for buy signal if correction occurs in the reference area that is in the range 1.30189 with potential rebound up to the range 1.30759. However be careful if support at 1.29768 breaks because it will turn the intraday bias to bearish and potentially will hit the sterling up to the range 1.29077.

 

[arigoldman]

Pair is being dormant lately, Maybe September will act as a catalyst.

 

[victoriajensen]

Pair is being dormant lately, Maybe September will act as a catalyst.

I agree. The market is often slower during the summer season, once that ends there is usually quite a bit more volatility.

 

[csc2009]

While the pair maintains strong upward momentum, rising to resistance level at 1.3225, the lack of progress on Brexit talking could hold back the gains this week.

 

[arigoldman]

Good day for the British Pound, up substantially against all peers.

 

[victoriajensen]

GBP/USD formed a double top at 1.3223 and it also formed a shooting star candlestick on the four-hour time-frame. Both are signals for a move to the downside and if they are valid next target will likely be around 1.3120, which is the (MA)89 indicator on the one-hour time-frame.

 

[victoriajensen]

GBP/USD sharply moved to the upside today after the Bank of England announced it is keeping the interest rate unchanged at 0.25%. Next target is likely at 1.3500.

 

[victoriajensen]

GBP/USD not only reached 1.3500 but broke out above that level and reached a new high at 1.3615. The pair will probably continue rallying towards 1.3700.

 

[LionelID]

The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3590, gaining 1.44%. I believe that support is now at 1.3159, Monday's low, and resistance is likely at 1.3616, the high of Friday's trading.

 

[csc2009]

GBP/USD not only reached 1.3500 but broke out above that level and reached a new high at 1.3615. The pair will probably continue rallying towards 1.3700.

I agree, but I'm expecting consolidation in the beginning of the week before the pair uptrend extend further.

 

[victoriajensen]

The GBP/USD bullish trend is stalling for now, the pair formed a double top at 1.3618, as well as a shooting star candlesitck at that level on the one-hour time-frame before falling moving sharply to the downside. Next target is likely at 1.3425, which is the (MA)89 indicator on the same one-hour time-frame.

 

[arigoldman]

Somehow neutral after the event today. Not much of an impact.

 

[csc2009]

Gbp/Usd continues its corrective movement with slight pull back, short term support can be seen around 1.3450/40 and resistance around 1.3620/10. Possible opportunity open for buy in dips.

 

[victoriajensen]

GBP/USD is testing the support at 1.3470 - 1.3460 and depending on the fundamentals tomorrow it may break out below those levels and continue moving to the downside. Another rally, on the other hand, would likely mean a test of and a possible breakout above 1.3618.

 

[gerryg]

After Carney said further tightening will be gradual and limited I don't expect Pound to make substantial gains in near future. Pace of tightening may be really slow, insufficient to subdue inflation.

 

[victoriajensen]

GBP/USD rallied again to test the resistance at 1.3618, but whether it will succeed in breaking out above that level depends on the fundamentals coming out later today.

 

[victoriajensen]

GBP/USD dropped after the fundamentals yesterday, but it could not break out below the long-term support at 1.3460 and eventually bounced off from it again. Currently the pair is at 1.3580 and it may test the resistance at 1.3600.

 

[Jenny FX]

Key levels to watch for:
Support: 1.3093; 1.3030;
Resistance: 1.3935.

 

[victoriajensen]

The GBP/USD sideways consolidation continues. That said, the pair has formed a shooting star candlestick on the daily time-frame at 1.3655, so there might be a deeper move to the downside, should the pair break out below 1.3460.