key support: 1.37 Key Resistance: 1.3740 – 1.38 After yesterday’s BOE day, the GBP surged 1% against the USD to retest the 1.37 level: Aug. 30 – Sept. 8 base. This level is key for further upside on this market. Yesterday’s 1% rally marks the breakout of the mid term bearish structure that retested the […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: RangingGBP/USD has been in a range-bound move since June. Yesterday, the currency pair fell to the low of level 1.3642 and resumed upward. The pound is likely to rise to retest level 1.3900 resistance level. This has been the price […]
The dismal UK retail sales report has failed to support the GBP. So far, today’s markets have been relatively calm. As market sentiments appear to have calmed, the yen continues to reverse this week’s gains. After disappointing retail sales statistics, the dollar softens and the pound weakens slightly. UK retail sales fell -0.9% mom in […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: RangingSince September 3, GBP/USD is stuck at level 1.3891. The bulls have made three attempts to break the resistance at the recent high but to no avail. On September 3, the currency pair was repelled as it fell to 1.3726 […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: RangingGBP/USD has resumed upward move to retest level 1.4000 resistances. Buyers have made two attempts to break above the resistance level. The current uptrend is facing resistance at level 1.3868. The current resistance is expected to find support above the […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BearishGBP/USD has been in a sideways move since July. Today, the Pound is rising upward after falling to level 1.3620. In July, the market retested the low of 1.3620 and resumed upward to level 1.4000. Today, buyers are pushing the […]
GBP/USD rallied after reaching 1.3733 today’s low. In the short term, it’s still bullish despite the temporary decline. The Dollar Index is bearish, so it could drop anytime again. Technically, we can still search for long opportunities in GBP/USD. The USD has taken a hit from the US Pending Home Sales indicator which has registered […]
Key Resistance: 1.3750 Key Support: 1.36000 The GBPUSD started the week o a bullish note reversing from around last month’s lows but if we look at the mid term in this market we can see that this bullish move is only a 50% pullback from last week’s bearish range. If we look at the past […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BearishThe Pound has been in a downward move since June. The downtrend has reached bearish exhaustion. The bears have been repelled at level 1.3620 support. Each bearish move has been facing rejection at the recent low. Meanwhile, on June 21 […]
