The Daily Forecaster: GBP/USD

There’s still a risk of seeing 1.6069 but while it holds the outlook is bullish otherwise expect losses The underlying MT direction is bullish while the daily bias is bullish. Therefore the main risk is higher. Ensure that key support levels hold. Note key resistance levels that would suggest continuation of the bullish move. Consider [...]

GBP/USD Breaks Below 1.6000

GBP/USD fell further to 2-week lows at 1.5952. The pair plummeted almost 200 pips during the American session and is headed toward the third decline in a row, retreating further from 9-month highs. It currently trades at 1.5980/85, 0.97% below today’s opening price. Read more about GBP/USD…

GBP/USD Could Present Scalping Opportunity

The GBP/USD saw its six day rally come to an end on Friday and emerging concerns that Ireland will be the next Greece helped build upon those losses. The greenback benefitted from a broader flight to safety which gave traders an excuse to take profits. The GBP/USD saw its six day rally come to an [...]

Forex: GBP/USD Unable to Hold Above 1.6100

The Cable jumped to 1.6170 after the FOMC announced the second round of quantitative easing, reaching a fresh 9-month high but reversed sharply and plummeted to 1.6033. GBP/USD recovered afterwards and currently is hovering below 1.6100, around the same price level it had reached before FED’s decision. Read more about GBP/USD…

GBP/USD Still Bullish

GBP/USD managed to reach an intraday high around 1.6090 yet finally closed at the Asian opening levels, barely unchanged intraday. Read more about GBP/USD…

GBP/USD Breaks Lower

The Cable failed to hold above 1.5755 and broke lower, falling to 1.5728, a fresh daily low. GBP/USD held close to session lows, under pressure. The pair weakened after the Wall Street opening amid a strengthening of the Dollar across the board. Read more about GBP/USD…

GBP/USD Technical Analysis:1.60 is the Key in Cable

GBP/USD analysis shows the following today: The all-important 1.60 handle has shown to be a “double top” over the course of the last several months, as shown by the arrows on the chart below. What were even more impressive were the shooting stars that formed at the 1.60 level, as it formed the second top. [...]

GBP/USD Retreats From Daily Highs Ahead of Beige Book

FXstreet.com (Córdoba) – The Pound is moving away from 1.5876 (session highs) but is still posting important gains. GBP/USD rose more than 200 pips from the lows and erased most of yesterday’s losses. Read more about the Pound…

GBP/USD Falls Over 250 Pips

FXstreet.com (Barcelona) – The Cable was sold-off aggressively against a vigorous Greenback on Tuesday, sinking from an intra-day high at 1.5935 reached in Asia to hit a fresh 3-week low at 1.5678. The Chinese rate hike triggered all the stampede of selling pressure, with USD gaining over 200 pips or 1.12%. Read more about the [...]

GBP/USD Challenging Major Resistance

The GBP/USD breaking above 1.600 has led me into a cautious long position. I am concerned that the dollar’s decline may be overdone and due for a retracement and current struggles to remain above the psychological level has increased the odds of a reversal. Read more about GBP and USD…

GBP/USD Hits Fresh Daily Highs

The Pound reached a fresh daily high against the Dollar at 1.5955 and remains near daily highs trading above 1.5930. “As long as 1.58 handle holds, trend remains firm and a retest of yesterdays high above 1.60 possible”, said the Kshitij Consultancy Services Team. Read more about the British Pound…

GBP USD Analysis: Dollar Falls Amid Fed Easing Speculation

Sterling climbed against the dollar on Tuesday, after interest rate decisions by Australia and Japan’s central banks heightened speculation that the U.S. Federal Reserve will implement new monetary easing measures. In late European afternoon currency market trading, GBP/USD hit 1.593, cable’s highest since Aug. 9. The currency pair later pulled back slightly to trade at [...]

GBP/USD: Trading the Bank of England Interest Rate Decision

Uncertainties surrounding the Bank of England interest rate decision are likely to keep the GBP/USD range-bound in the days ahead, but comments from the central bank would spark increased volatility in exchange rate as investors weigh the prospects for future policy. However, if the central bank refrains from releasing a policy statement like we’ve seen [...]

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….

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