GBP/USD

[Atilla]

It's going to be volatile week this week.

TA is out the door. Follow the news.

If TM's speech is hard brexit as suggested, sell. Still expecting test of 1.20 to see if it holds.

If speech received positively, buy. See moves 1.20 - 1.24 with PP around 1.22.

 

[forker]

Any major selling pressure this week and I'll be opening a long term long for sure

 

[mike.]

bit of a gap there at 22.00.... fell below 120 for a bit.

 

[Atilla]

bit of a gap there at 22.00.... fell below 120 for a bit.

It held but I fear 1.18 is now next on our support level.

If TM's speech comes across bulshe then it's down elevator.

Noticed Carney trying to support the pound with the next move being a rise and it may well have to be sooner rather than later if it goes pear shaped. :whistling

 

[forker]

the thing is with the £ is that it has already priced in a hard brexit so any selling from here is going to be an over extended move and a major deviation from where the economy is. My finger is close to the trigger

 

[tar]

The selling in GBP didnt start yet ....

 

[Atilla]

No quite right. Just a holding position.

Remember, expectations and outcome of her speech at the Tory party conference? Rhinos **** in a china shop comes to mind.

Markets braced for meaningful words but expectations are not high for give aways imo. :whistling

 

[csc2009]

The pair is trading in a relatively tight range around 1.20/21 after a big gap, but Pound is very fragile and highly dependable on political factor, all focus on May tomorrow. I'm expecting further decline, next target will be at 1.1900 zone.

 

[gerryg]

They lure bulls in a trap you see the pair recovered to 1.2111, sure there will be the second test of 1.20

 

[Babson.Summary]

away from it today....GBP ,i will short it next week....

 

[victoriajensen]

GBP/USD rallied immensely after Theresa May's speech, the next target is likely at 1.2300.

 

[csc2009]

away from it today....GBP ,i will short it next week....

Good call, uncertainty remains high, Pound remains under pressure.

 

[deresel]

The pound recorded a powerful increase against the dollar on Tuesday. British currency registered its biggest one-day rise in nearly a decade. So resistance at 1.2314 was breached and the pair made a test on the second level at 1.2425. Short-term expectations remain in favor of the pound. Trade was opened at a price of 1.2044 as bulls guided currencies from the beginning. The rally of the pound strengthened after the statement of Theresa May on Brexit votes and so the closing price coincided with the highest value for the day - 1.2414.

 

[deresel]

Key levels to watch for:
Support: 1.2034; 1.1627;
Resistance: 1.2314; 1.2425;

 

[victoriajensen]

For now the pair is retracing after the considerable move to the upside yesterday. The closest target is likely around 1.2245, which is the (MA)89 indicator on the four-hour time-frame.

 

[csc2009]

Yesterday's gain seems short-lived, the Pound has pulled back and risk remain towards the downside, next resistance level can be found at 1.2200/2190 zone. Uncertainty is still high, many unknown still ahead of us.

 

[fxstrategist]

Gbpusd

Good pullback on the GBPUSD, but it may go back up above the 1.2300 level.

 

[Atilla]

It seems 1.20 held and 1.24 got rejected.

Don't have strong feelings either way at the moment but will continue with PP being 1.22 and moves on either side.

On balance feeling bearish wrt longer time frames.

 

[idimitrov]

Pound/dollar has strong momentum down yesterday, formed a bottom at 1.2253. Currently the price tests 1.2270 resistance. A clear break above this level will take price to neutral trading zone testing 1.2400. The bias is neutral, possibly with slight bearish signals in the short term to test 1.2100 - 1.2080. Immediate support is seen at 1.2200.

 

[victoriajensen]

The pair bounced off 1.2250 after forming a spinning top candlestick on the four-hour time-frame. Next target is likely 1.2345.