GBP/USD daily outlook
forex_trader_338100
Membre depuis Jun 21, 2016
posts 898
Mar 10, 2017 at 12:21
GBP/USD is up 0.04% at 1.2170 facing the next support at 1.2138 (low Mar.8) followed by 1.2036 (low Jan.11) and then 1.1979 (2017 low Jan.16). On the flip side, a breakout of 1.2253 (high Mar.7) would aim for 1.2302 (high Mar.6) and finally 1.2369 (20-day sma).
Membre depuis Oct 02, 2014
posts 909
Mar 10, 2017 at 12:53
the pair seems to consolidate ahead of triggering art. 50 this month. i'd wait to buy below 1.20.
Positivity
Mar 13, 2017 at 00:00
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.2170, gaining 0.04%. I believe that support is now at 1.2134, Thursday's low, and resistance is likely at 1.2302, Monday's high.
Membre depuis Oct 11, 2013
posts 775
Mar 13, 2017 at 03:03
The consolidation on the GBPUSD continues below the 1.2200 leve. That same level may act as resistance and the pair may go back down.
forex_trader_338100
Membre depuis Jun 21, 2016
posts 898
Mar 13, 2017 at 09:29
GBP/USD is up 0.35% at 1.2212 and a breakout of 1.2253 (high Mar.7) would aim for 1.2302 (high Mar.6) and finally 1.2354 (20-day sma). On the other hand, the next support lines up at 1.2138 (low Mar.8) followed by 1.2036 (low Jan.11) and then 1.1979 (2017 low Jan.16).
forex_trader_338100
Membre depuis Jun 21, 2016
posts 898
Mar 14, 2017 at 08:41
A convincing break below multi-week lows support near 1.2135-30 area is likely to accelerate the slide even below the 1.2100 handle, towards 1.2040 intermediate support ahead of the key 1.20 psychological mark support. On the upside, recovery back above 1.2160-65 area now seems to confront strong resistance near 1.2210-15 region, above which a fresh bout of short-covering has the potential to lift the pair beyond 1.2265-70 intermediate resistance towards the 1.2300 handle.
forex_trader_338100
Membre depuis Jun 21, 2016
posts 898
Mar 16, 2017 at 11:01
GBP/USD near term outlook is neutralizing: Sterling failed to close below the 78.6% retracement at 1.2142, for 6 days and has reversed near term. It has based near term and is likely to re test the 55 and 100 day ma at 1.2374/1.2407. Above here initial resistance is 1.2583 (9th Feb high). However only above 1.2658 channel would allow for further strength to the 1.2776 December high. Between here and 1.2836 lies several Fibonacci retracements and major resistance and we suspect that it will fail here.
Mar 16, 2017 at 11:16
The pound gained ground against the dollar on Wednesday. So the British currency fully recovered losses from the previous session and walked out of the narrow range in which was trading lately. Meanwhile, resistance at 1.2303 was breached and if the positive sentiment continued level at 1.2360 is also threatened. Trade was opened at a price of 1.2154 and closing rate was 1.2288. The trend was bullish of all time, peak was reached at 1.2308.
Membre depuis Jul 10, 2014
posts 1117
Mar 16, 2017 at 14:07
The fundamentals yesterday prompted a significant move to the upside and the pair reached a new high at 1.2370. GBP/USD is still quite bullish and it will likely continue climbing.
Membre depuis Oct 02, 2014
posts 909
Mar 17, 2017 at 08:20
The week turned out to be very positive for the Sterling. GBP/USD reached a high of 1.2378, but i think Art 50 triggering will put out the fire.
Positivity
Mar 19, 2017 at 08:58
The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD is trading at 1.2396, gaining 0.31%. I believe that support is now at around 1,2106, Tuesday's low, and resistance is likely at 1.2405, the high of Friday's trading.
Mar 19, 2017 at 09:02
Last week's strengthening of the pound led the GBP / USD to 1.2400, which is just slightly below the simple moving averages for 50 and 100 days. The gain may slow next week, but if GBP / USD breaks above 1.2400 on Monday, it may reach 1.25.
Mar 20, 2017 at 01:59
idimitrov posted:
Last week's strengthening of the pound led the GBP / USD to 1.2400, which is just slightly below the simple moving averages for 50 and 100 days. The gain may slow next week, but if GBP / USD breaks above 1.2400 on Monday, it may reach 1.25.
I agree, the pair is still holding well within positive territory while it has temporarily lost its upward strength, bouncing around 1.238 level. 1.2400 level act as important resistance level.
Mar 22, 2017 at 11:52
Yesterday the dollar lost 114 pips against the British pound. Opening rate of the day was 1.2358, and the day began with a slight preponderance of bulls before the bears to take the bottom level of 1.2340. This forced bull market players and in the next hour first resistance level of 1.2420 was breached. High of the day was recorded at exchange rate 1.2494. At the end of session one British pound was traded for 1.2472 dollars.
forex_trader_338100
Membre depuis Jun 21, 2016
posts 898
Mar 22, 2017 at 15:56
Sterling based at 1.2110 and reached the seven-month resistance line at 1.2471. Above it sits the 1.2581 February 9 th high which will be in sight once a break above the resistance line has been seen. Only above the 1.2705 February high would allow for further strength to the 1.2776 December high to be seen. Between it and 1.2836 lie several Fibonacci retracements and major resistance and we suspect that it will fail there. Where are we wrong? The recent low at 1.2110 is considered to be the last defence for the 1.1988 January low and the bottom of the 5-month range at 1.1919.
