GBP/USD dropped after reaching a static resistance level. Still, the decline could be only a temporary one as the pair is located above major dynamic support. The DXY remains under selling pressure, so a further decline should weaken the greenback. The price has declined a little after Friday’s rally. Technically, maybe it was a natural […]
Key Support: 1.42 – 1.4165 Key Resistance: 1.4380 The GBPUSD’s upside has been capped to the upside by the 1.42 level since mid May creating a flat triangle in the process. it has now come back into the range below 1.42 on big USD buying from the lows but the setup remains valid 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: BullishGBP/USD pair has risen to 1.4250 and price is fluctuating below the resistance level. Since May 18, the pair has been retesting the resistance zone, Similarly, on February 24, the pair was repelled at the same resistance level and the […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is rising upward. However, the upward move is facing resistance on the upside. Recently, the currency pair was resisted on May 11 as the Pound fell to level 1.4050 low. Today, the Pound is rising to retest the resistance […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishThe pound rebounded above level 1.3800 and broke through the price levels. The bullish momentum has broken above level 1.4000 high. For the past three months, the Pound has been in a downward correction as bulls fail to break the […]
GBP/USD is trading in the red at the moment of writing but the bias remains bullish. The pair moves sideways within a narrow range. Its failure to confirm a deeper decline in the short term signaled an upside breakout. The US NPF, Unemployment Rate, and Average Hourly Earnings data could be crucial for USD today. […]
The Bank of England voted unanimously today to keep the Bank rate at 0.1 percent, which is a record low. The central bank, on the other hand, voted 8-1 to keep the asset purchase program at 895 billion pounds, with 875 billion pounds in government bonds. Asset purchases will be slowed so that the project […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is rising to retest the resistance at level 1.4000. The resistance has remained unbroken since February 25. Meanwhile, on April 20, the pair was resisted but the retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates […]
GBP/USD edged higher in the last hours and it could validate further growth soon. The rate has moved sideways in the short term accumulating more bullish energy. USDX’s current sell-off ahead of the FOMC forces the greenback to drop versus its rivals. The US Dollar Index maintains a bearish outlook after the most recent temporary […]
