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 had been in an uptrend. The pair has been facing rejection at level 1.4200. On February 24 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. This retracement indicates that the Pound will rise to level 2.618 […]
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 had been in an uptrend. The pair is currently retracing to the previous low. The price has broken the 21-day SMA but it is approaching the 50-day SMA. Once the price breaks the 50-day SMA, the market may further […]
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 had been in an uptrend. The market is still retracing after the recent rejection at level 1.4200. It is likely the retracement will find support above the 21-day SMA or the trend line. In the previous price action, the […]
Key Resistance: 1.40 Key Support: 1.38 Mid Term View After hitting and rejecting the 1.4200 level the GU crashed 358 pips (-2.50%) and broke with the 1.40 level to close lower on Friday. Sunday´s open brought buyers to push the Pound up to this previous level. 1H Chart Analysis The retest of the 1.40 + […]
Key Resistance: 1.4170 – 1.4220 Key Support: 1.4080 – 1.4037 Long Term View The GU has been in a very strong up move back in March 2020 for an almost +25% move. The latest leg of this bullish move is overextended. 1H Chart Analysis Price in the GU fell yesterday 165 pips from the highs […]
Key Resistance Levels:1.4200,1.4400,1.4600 Key Support Levels: 1.3200, 1.3000, 1.2800 GBP/USD Price Long-term Trend: BullishGBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price has […]
Since the start of the pandemic, the pound has behaved more like a risky asset than a safe haven. Much of the recent gain in the pound has been linked to the signing of the Brexit agreement between the UK and the EU ahead of Christmas and the weakness of the US dollar. The steadily […]
Sterling was one of the strongest after data showed better-than-expected GDP growth in December and Q4. UK GDP grew 1.2% mom in December, higher than expected 1.0% mom growth. Services index rose 1.7% mom. The manufacturing index rose 0.2% mom Production increased by 0.3% mom, construction fell by 2.9% mom, agriculture grew by 0.3% mom. […]
The dollar remains generally weak in today’s trading, although overall sentiment is stabilizing. Risk trading is taking a breather to some extent after earlier US stocks hit new intraday gains. Meanwhile, the dollar sell-off continues at the beginning of the American session and continues after weaker-than-expected values of the core CPI. Sterling rallies today amid […]
