Pound/dollar made a moderate upward momentum yesterday, forming a peak at 1.2845. Expectations are bullish for testing 1.2900. A clear breakthrough and daily closure over this area can clear the road ahead of the bulls up to 1.3000 - 1.3050 and give further confirmation of the bullish scenario on the double bottom. Support for the day is 1.2800. A clear break below it could take the price to a neutral trading area, but only a clear break below 1.2750 would have to stop the upside-down scenario on the double bottom.
The pound recorded another neutral session against the dollar on Wednesday. The pair continues to fluctuate around the levels it reached in the middle of last week. It is expected soon that the British currency will prevail and the resistance at 1.2901 will be pierced. Trading on Wednesday was open at a 1.2840, and the trend was neutral almost all the time. A weak bullish momentum was noticed in the afternoon when the pair reached a peak at 1.2862, but the pound quickly lost the lead.
arigoldman
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GBP/USD is having a very strong bullish rally as price advanced to a high of 1.2962. Bears might try to take it down this week.
victoriajensen
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I agree. The retracement could continue back to 1.2890 - 1.2880, or even lower than that, but the trend remains bullish for now.
fxstrategist
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The GBP/USD has pulled back to the 1.2900 level, but the bullish trend is still in place. The pair may try to go and visit the 1.3000 level, but if it breaks below the 1.2900 level, then it may drop to the 1.2800 zone.
1.30 level remains quite luring for bulls, loads of stops of pound bears there, could be very lucrative move to start long-term shorts again.
1.30 level remains quite an ultimate target for bulls of recent rally, loads of stops of pound bears there to be hit off, could be very lucrative move to start long-term shorts again.
victoriajensen
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GBP/USD retraced back to 1.2860 and bounced off from that level after forming an inverted hammer candlestick on the one-hour time-frame. It is moving to the upside again and it will likely test the previous high at 1.2965.
Tssh Nguyen
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GBP/USD today
asimpleplan
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Sure, the £ is looking very Bullish against the $ but so what? What's to stop it crashing back down to 1.1900 if investors don't like the election result or the terms of the Brexit?
fxstrategist
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Gbpusd
The GBPUSD has rally on the back of the US NFP numbers and it is trying to reach the 1.3000 level, which could act as resistance.
The GBPUSD has rally on the back of the US NFP numbers and it is trying to reach the 1.3000 level, which could act as resistance.
arigoldman
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GBP/USD continues it's way to the upside. I'm expecting 3% this week!
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2980, gaining 0.45%.
I believe that support is now at around 1.2829, Thursday's low, and resistance is likely at 1.2976, the high of Friday's trading.
I believe that support is now at around 1.2829, Thursday's low, and resistance is likely at 1.2976, the high of Friday's trading.
