arigoldman
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Uneventful week for the Pound. Although the pair went down in teh beginning of the week, the GBP/USD pair is now back at previous level around 1.2550.
The pound recorded a sharp rise against the dollar on Thursday. British currency acquitted positive expectations and recorded substantial progress against the dollar. So the pound offset losses and get out of the narrow range in which varied past few sessions. Meanwhile, resistance at 1.2524 has been overcome and if bullish sentiment continues, the pair will test the level at 1.2576.
On Tuesday, trading in Europe is relatively quiet. In anticipation of the President's speech the United States, major currency pairs traded in limited price ranges.
GBP/USD is consolidating in the range 1,2412-1,2450. The mood against the pair remains negative due to the growth of EUR/GBP. It will change in a positive way, if there is a break above 1.2452. Increasing the price above this level could provide a fresh impetus for a breakthrough to 1.2480.
GBP/USD is consolidating in the range 1,2412-1,2450. The mood against the pair remains negative due to the growth of EUR/GBP. It will change in a positive way, if there is a break above 1.2452. Increasing the price above this level could provide a fresh impetus for a breakthrough to 1.2480.
Well its highly possible but not so fast. I'm pretty sure there is a sound and solid and some big players are certainly still looking to trade upside. So after 1-2 tests of 1.23 level, I think it'll be ready for breakout
victoriajensen
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It did break below 1.2300 and it continues moving to the downside. Next target is likely 1.2200, but it might fall lower than that.
The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
The pair GBP/USD fell by 0.32% to a minimum of six weeks at 1.2226.
The pair GBP/USD fell by 0.32% to a minimum of six weeks at 1.2226.
fxstrategist
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Gbpusd
Looks like a hammer formation on the GBPUSD daily chart with a good resistance at the 1.2300 level, but the pair may go back down.
Looks like a hammer formation on the GBPUSD daily chart with a good resistance at the 1.2300 level, but the pair may go back down.
On Friday, the dollar fell against other major currencies. Traders continued to take profits after a recent rise in price of the dollar to a maximum of seven weeks. However, the depreciation of the dollar is limited because of the increasing likelihood of higher interest rates in the US this month.
The pair GBP/USD fell by 0.29% to a minimum of six weeks of 1.2230 after a research of group Markit said that last month the index of business activity in the manufacturing sector (PMI) fell to the UK five-month low of 53.3 against the values 54.5 in January. Analysts had expected in February to reduce this figure to 54.1. Later the pair rose to 1.2297.
The pair GBP/USD fell by 0.29% to a minimum of six weeks of 1.2230 after a research of group Markit said that last month the index of business activity in the manufacturing sector (PMI) fell to the UK five-month low of 53.3 against the values 54.5 in January. Analysts had expected in February to reduce this figure to 54.1. Later the pair rose to 1.2297.
arigoldman
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I'm long the Sterling, let's see how the week goes. Good support levels.
victoriajensen
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GBP/USD is testing the support at 1.2185 and the pair is quite bearish, but a short retracement is possible because there is an inverted hammer candlestick as well as a doji candlestick on the one-hour time-frame above the aforementioned support.
Of course there should be a retracement because bulls are waiting for their turn as soon as Brexit case is cleared up. I can't wait for playing long as its too late to short the pair but waiting for the solid signals from economic or political side
The British pound recorded a decline against the US dollar on Tuesday. The pair lost 38 pips at a closing price of 1.2197. Daily extreme values were reached respectively at 1.2251 and 1.2168. Bearish sentiment retain its dominance at present, as confirmed break of 1.2150 will enable the continuing decline.
