GBP/USD forecast - page 43

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If look on xaudusd this commodity also on bias bullish movement, although still on resistance but if look demand supply might occured breakout and look from weekly timeframe still on tendencies to major bullish
 
The decline of the dollar supported the pound sterling, which reached a peak of six weeks, while investors predicted that the British High Court later on Tuesday will make a decision about that to start formal negotiations on the withdrawal from the European Union the government needs the approval of Parliament.
The pound reached a high of $1.2538 - the maximum against the dollar since December 15, but then fell slightly to $1.2505.
 
The pound recorded significant increase against the dollar on Monday. The session started at 1.2375 and ended at 1.2533. After steady upward movement the price managed to break the first resistance at 1.2516. If the upward trend continues we can expect a test of the next resistance at 1.2700.
 
Key levels to watch for:
Support: 1.2516; 1.2360; 1.2150;
Resistance: 1.2700.
 
The dollar was trading close to a 7-week low against a basket of other major currencies amid lingering market concerns about the protectionist policies of Donald Trump.
The pound fell slightly against the dollar. The pair GBP/USD slipped by 0.34% to 1.2488.
 

British Pound Forecast to Rise Against Euro + Dollar by BNP Paribas

Pound Sterling is expected to stay above 2016 lows going forward with the currency set to benefit as the Brexit story grows stale.

At current levels, GBP is well below where it should be were value purely determined by strength of the economy.

Despite the UK being one of the fastest growing G10 countries in 2016, Sterling languishes within touching-distance of multi-year lows against the majority of its rivals confirming that this is a political and sentiment-driven currency.

"GBP should remain supported for now. GBP has converted into a political currency, but this week could see UK politics and economics point both towards GBP strength with tomorrow’s UK Q4 GDP report suggesting strength," says Hans Redeker at Morgan Stanley in London.

Agreeing on this concept are analysts at BNP Paribas, the French investment banking giant who believe GBP is now trading near levels reflecting a worst-case scenario for trade and capital flows.

In their opinion, downside pressure should ease and further upside is now possible.

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GBP/USD: To Meander Back Towards 1.2309 Than Up Towards 1.30 From Here


The pound trades like a currency that has been beaten up so much it can’t easily fall further.

PMQs will doubtless be feisty, but the countdown to leaving the EU hasn’t really changed and the debate about the economic consequences hasn’t either. If anything, I’m more alarmed at the flurry of companies reporting a negative impact on profits from rising raw material prices, and the number announcing price rises. The hit to real wage growth is coming.

I’m still more bearish gilts than of sterling at these levels, but GBP/USD is more likely to meander back towards 1.2309 than up towards 1.30 from here.

source
 
The GBPUSD keeps its bullish momentum, but we should be careful with a profit taking pullback, which could take the pair back below the 1.2600 level.
 
Yes sometime after on long distance movement than possible occur pulback and might will safe and better waiting on retracement before making entry again.
 

Pound To US Dollar Forecast: ING See GBP/USD Exchange Rate 'Buying Opportunities' Above 1.25


Unlike several other FX strategists, investment group ING are forecasting lower prices ahead in the Pound to dollar exchange rate. As of this update (26/1 16:30 GMT), GBP/USD is fading fresh six-week highs, trading above 1.257.

In the last several days we’ve reported on the bullish opinions on GBP/USD of several investment banks.

Morgan Stanley see 1.27/1.28 in the pound to dollar rate within coming weeks, and BNP Paribas offered a post-Brexit fair valuation of 1.30 for the pair based on an internal quantitative model.

Today, flying in the face of those exchange rate calls is ING, who are not only bearish on sterling, but are bearish right now!

Received early on Wednesday morning (08:00 GMT), ING’s latest research report recommends selling GBP/USD above 1.25, describing short opportunities here as “attractive”.

The British pound sits at 1.2527, very close to 2017’s highs. ING are targeting 1.21 in the pair – a move they believe will occur “within coming weeks”.

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