GBP/USD Surges on Improvement in Manufacturing PMI

The Cable exploded from our 2nd tier downtrend line and the psychological 1.60 level, darting to new annual highs on impressive volume. In fact, the volume compares to the action we saw during the bottom of the selloff in mid-January. Therefore, the GBP/USD is making a loud statement for its… Read more….

GBP/USD reaches a fresh 7-month high at 1.6496 (The Forex Market)

FXstreet.com (Córdoba) – The pound keeps rising across the board. Recently GBP/USD reached a fresh 7-month high at 1.6496. The pair is heading toward the highest daily close since October 21. So far today the par has risen more than 450 pips and is 1.84% above today opening price.

GBP/USD consolidates its 7-month high (The Forex Market)

FXstreet.com (Barcelona) – After the last bullish momentum, which took the Sterling from 1.6185 to post 1.6430 against Greenback in the early European session, the GBP/USD is consolidating its high levels during the European morning.

GBP/USD reaches 1.6199 and falls to 1.6145 (The Forex Market)

FXstreet.com (Córdoba) – The Pound reached a fresh 5-month low against the Dollar. GBP/USD topped at 1.6199 during the American session. Currently the pair is pulling back from those levels and has found support at 1.6145. So far today GBP/USD is up 1.35% from opening price.

GBP/USD Breaks Through 1.60

The Cable busted through our 2nd tier downtrend line and the psychological 1.60 level as investors return to risk. We view the defeat of our 2nd tier downtrend line as a significant move, giving a green light to the Cable’s bull trend. Our 2nd tier downtrend line stretches back to… Read more….

Forex: GBP/USD finds support at 1.4070, back above to 1.4150 (The Forex Market)

FXstreet.com (Barcelona) – After falls 120 pips from 1.6175 to find support at 1.6055, GBP/USD has begun to rise to 1.6165. Currently the pair is trading around 1.6140/50, 1.25% above today’s opening price.

GBP/USD Daily Commentary

The Cable weakened with U.S. equities yesterday, exercising its positive correlation with the S&P futures as investors locked in gains at the highly psychological 1.60 level. Today’s CBI realized sales number was a little disappointing, as was yesterday’s BBA mortgage approvals. Therefore, the optimism surrounding a recovery in consumption and… Read more….

GBPUSD: Shooting Star Formation Portends Lower Prices Nearer Term

The inability of the pair to sustain its intra gains on saw it reversing most of those gains to close marginally higher forming a shooting star candle on Wednesday. It was seen trading lower in early morning trading today. We now envisage corrective pullbacks to shape up. Read more….

GBP/USD Spotlight: Indicator of the Day (Daily FX)

Gbp/Usd: A “ shooting star ” is a candle formation that occurs at the end of trend and often results in some form of a top. For this set-up to occur, the market will trade significantly higher right from the open, before eventually retreating to close all the way back by opening levels.

GBP/USD Daily Commentary

The Cable continues its incredible run and is currently working to climb above our 2nd tier downtrend line and the psychological 1.60 level. Our 2nd tier downtrend line is a critical obstacle since it stretches back to July 2008 highs, forming our last foreseeable blockade for the medium-term. Hence, even… Read more….

GBP/USD SELL Recommendation Issued @1.6120 (Daily FX)

Gbp/Usd: With daily studies so remarkably stretched, we continue to look for opportunities to establish counter-trend short trades on overdone intraday rallies.

GBP/USD tests 1.5855 after rebounding from 1.5780 (The Forex Market)

FXstreet.com (Barcelona) – GBP/USD has found support at 1.5780 after its 170 pips declining from 1.5980 in the early European session and Cable has been rebounded to test levels around 1.5855 (EMA-55 level). Currently the pair is trading around 1.5840/50, 0.40% below today’s opening price.

GBP/USD Sell Recommendation Issued @1.6020 (Daily FX)

Gbp/Usd: We are not inclined to take any positions on the lightened holiday trade and will only establish a trade if it is essentially gift wrapped. Holiday trade can be very tricky and dangerous with the lack of any real volume or liquidity making it easier to push markets in either direction.

GBP/USD Current price: 1.5885 (The Forex Market)

FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.5885. Again consolidating close to day highs pair continues to the upside, with no signs of corrections yet.

Forex: GBP/USD: Pound reaches 1.5355 level; pares Friday’ws losses (The Forex Market)

FXstreet.com (Barcelona) – GBP/USD has taken back all the ground lost on Friday and after bouncing at Monday’s low at 1.5115 it has rallied to resistance level at 1.5355 (May 12 high).

GBP/USD Current price: 1.5326 (The Forex Market)

FXstreet.com (Buenos Aires) – GBP/USD Current price: 1.5326. Close to the tough 1.5350 level, pair is attempting a small downside correction, supported by indicators that point down in the hourly. Bigger time frames indicators also seem a bit exhausted.

Forex: GBP/USD: The Pound strengthens after U.S. data and reaches 1.5245 day high (The Forex Market)

FXstreet.com (Barcelona) – GBP/USD bounce from 1.5135 intra-day low has strengthened and the Pound has jumped above 1.5215, Asian session support level, reaching 1.5245 intra-day high level at the time of writing.

Forex: GBP/USD rises above 1.5200 to 1.5245 (The Forex Market)

FXstreet.com (Córdoba) – Dollar weakened across in the final hours of the American session. Against the pound is losing Tuesday’s gains. GBP/USD broke above 1.5200 topping at 1.5245. Current price is 1.5223 which is 0.48% above opening price.

GBP/USD Daily Commentary

The Cable is settling after yesterday’s selloff in reaction to disappointing retail sales data from the U.S. The pullback came on pretty large volume, so we could see a continued near-tem downturn with a retest of 1.50. However, the bull trend in the Cable is still in control since any… Read more….