GBP/USD forecast - page 122

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S&R Levels for 1/nov/18


 
The Sterling shot up yesterday without any fundamentals to back it up afaik. Today's data can boost the rally.
 
The pair has gained more than 250 pips and now trading above 1.30 level after  about PM May struck a deal with the EU on financial services. GBP/Usd is consolidating its gains but there is no indication of changing direction, next target is expected to be at 1.31 level.
 
GBP/USD: The dollar traded without sharp fluctuations on Friday in anticipation of US labor statistics, moving away from a maximum of 16 months in the course of previous trades, as investors again switched to risky assets. The pound sterling held the advantage after the Bank of England left rates unchanged on Thursday and indicated a possible acceleration of rates in the future if Brexit runs smoothly. The pound sterling fell 0.02 percent to $ 1.2998, but held the bulk of the gains after a rise of 1.8 percent on Thursday, the maximum one-day increase since April 2017.
 
Let's see if it's gonna break the 100 and 50 day moving average. 
 
The British pound fell against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2969, losing 0.34%. I believe that support is now at around 1.2696, Tuesday’s low, and resistance is likely at 1.3041, Friday's trading high.
 

Cable gapped up at open and am expecting it to test Friday's high of 1.3038 before it drops towards the  1.2900 support.

The current trend looks bullish so will be looking for buy signals above 1.2860 with an initial stop at 1.2850

Sellers should have a stop around 1.3050

 
GBP/Usd starts the week with a small gap up, but the pair is stick around 1.30 level and currently showing no clear direction.
 
The pair continues its consolidation above 1.30 level due to the rumours about we might finally get Brexit financial services deal this week. My next target is at 1.3090.
 
GBP/USD: The pair attempted to drop last week, reaching bottom at 1.2695, but turned up and then closed higher at 1.2960, and now fights around 1.3000. Trading signals are neutral, but the longer the price remains above 1.2925, the short-term outlook is upward. On the upside, a clear break and daily closing over 1.3000 will clear the road to 1.3125. Downwards, a clear break and daily closure back below 1.2925 will interrupt the upward rally, but only a clear break below 1.2695 will activate my descending model again.
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