GBPUSD: Correcting With Upside Bias

Hesitation continues to be seen in the pair’s price action finding it tough to have a clear directional moves in the nearer term. While that continues to play out, corrective to resumption of its medium term uptrend is envisaged. Resistance starts at its 2009 high at 1.6662 where a break… Read more….

GBP/USD: Pound Recovery Extends to 1.6350

The Pound has already retaken more than half of the ground lost in the European morning sell-off as a rebound on the 1.6210 intra-week low extended to the 1.6350 level on buoyant results of June’s Philadelphia Fed Business Index. Read more…

GBP/USD Weakens After Disappointing CBI Data

The Cable has pulled back to our 3rd tier uptrend line after investors reacted negatively to today’s data from Britain. Most analysts are highlighting the report showing negative growth in retail sales over the past month. However, viewing the data from a more historical perspective, British retail sales tend to… Read more….

Sterling Regains the Upside at Early Europe Session

“GBP/USD, still inside the descendant channel we mentioned yesterday, regained the upside early in Europe, still unable to break above the rook first dynamic resistance for today, now around 1.6430,” said Valeria Bednarik, collaborator at FXstreet.com. Read more…

Daily Technical Strategist: GBPUSD

Reversal of yesterday gains were seen in early morning trading today suggesting that a trade below the 1.6209 level, its minor support will leave the pair targeting further lower prices towards the 1.6000 level where its psycho level is located ahead of another strong support standing at the 1.5801 level,… Read more….

GBP/USD Falls Close to 1.6400

The Cable has been unable to reach 1.6500 levels in the last hour, and the pair has fallen from 1.6480 to test the 1.6400 level. Despite the rejection, the pair is trading on the positive daily side, rising 0.90% so far today from opening price to the current 1.6400/10. Read more…

Chart Of The Day: GBP/USD

Price action on GBP/USD, a daily chart of which is shown, continues to traverse a steep parallel uptrend channel. This is despite coming down from a failed double-test high that reached up to around 1.6620, falling short of the previous 1.6660 high. Currently, price has bounced up off support around… Read more….

GBP/USD Deflects Off our 3rd Tier Trend Lines

The Cable pulled back on large volume yesterday as the Dollar appreciated across the board. However, the GBP/USD’s losses were not technically significant as with the EUR/USD due to Britain’s relative strength economically. The Cable now appears to be following our 2nd tier downtrend line while trading comfortably above the… Read more….

GBP/USD Forms Double Top

The Dollar regained strength against the Pound during the start of this week, forcing the pair to trade significantly lower. The pair has fallen over 160 pips from the open and looks to be headed towards further declines. This downward movement is a validating sign to the double top formation… Read more….

GBP/USD Rejects From 1.6435, Falls to 1.6310 Again

After picking up from a 1.6300 intra-day low in the early European session to test the 1.6435 resistance, the Cable has begun to fall to initial levels around the 1.6300/10 zone after the US opening bell. Currently, the pair is trading around 0.60% below today’s opening price. Read more about GBP and USD…

GBP/USD: Pound Bounces at 1.6330 and Tests 1.6400

The decline from the 1.6600 intra-day high has found support at 1.6330, and the Pound is attempting a recovery move, reaching levels at 1.6385/00 at the moment of this writing. According to Valeria Bednarik, collaborator at FXstreet.com, below 1.6340 the pair will confirm further losses: “Pair gained bearish momentum after breaking an ascendant trend line [...]

GBP/USD Deflects Off our 3rd Tier Trend Lines

The Cable is deflecting off our 3rd tier uptrend and downtrend lines as the S&P futures battle their 1st tier uptrend line. Weakness in the GBP/USD also comes in reaction to a large pullback in gold. Since Britain is quiet on the economic data front, the Cable is taking its… Read more….

GBP/USD Below 1.6600; Rises 1.50% So Far Today

The Pound has eased its rally across the board. GBP/USD is back below 1.6600. The recovery of the dollar found support at 1.6560 and now GBP/USD is pointing up. Resistance zone lies at 1.6620 (intra-day high) and 1.6660 (7-month high). So far today, the pair has risen 1.50%. Read more about GBP and USD…

Pound is Back Above 1.6350 Against the Dollar

GBP/USD rebounded at 1.6240 (intra-day low), rising strongly to 1.6360. The Cable reached an intra-day high at 1.6472 before the opening bell on Wall Street. After topping, the pair began to fall and continue in that way during the American session. Read more…

GBP/USD Continues its Recovery after Positive Manufacturing Production

The Cable has jumped over our 2nd tier downtrend line as investors celebrate a better than expected manufacturing production number, accompanied by an upward revision of the previous release. Meanwhile, investors seem to be ignoring the declining trade balance, signifying a rise in imports and/or decrease in exports. Since recent… Read more….

GBP/USD Makes a Solid Push Back Above 1.60

The Cable has propelled from our 3rd tier uptrend line to make a solid run past the psychological 1.60 level. While the performance of the GBP/USD over the last 24 hours has been encouraging, the upward movement came with relatively weak volume as compared to last week’s pullback. Regardless, bulls… Read more….

Forex: GBP/USD: Pound aiming to 1.6100 resistance (The Forex Market)

FXstreet.com (Barcelona) – GBP/USD has launched two assaults to the 1.6100 resistance levels during Asian session, a level which has not been broken so far, and, after a pullback to 1.5985, the Pound has risen back to levels right below the mentioned resistance, which could be tested any moment ahead of the European session opening.

GBP/USD Sets a Temporary Bottom on Declining Volume

The Cable is finally forming a temporary bottom after its swift selloff. Friday’s downturn gained traction as Gordon Brown faced the resignation of another top official who asked for Brown’s resignation. The incredible shake up taking place in the Labor Party is unsettling since investors dislike such uncertainty. The Cable… Read more….

Forex: GBP/USD finds support at 1.5800 and rebounds to 1.5850 (The Forex Market)

FXstreet.com (Barcelona) – After falling around 175 pips from 1.5975 today’s opening price to reach 1.5803 as 1-week low, the GBP/USD has begun to rise from this support to trade around 1.5850 level.

Pound extends decline: GBP/USD finds support at 1.5940 (The Forex Market)

FXstreet.com (Córdoba) – The dollar continues to rise across the board. GBP/USD bottomed today at 1.5939 extending declines after the NFP report. So far today the pair is down 1.02% from today opening price.

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