GBP/USD forecast - page 44

New comment
 
I'm optimistic about the US dollar.
 
arigoldman:
I'm optimistic about the US dollar.
Greetings,
Is looks like the downside movement will continue with targets around 1.2430 - perhaps not today, but soon :)
 
The dollar fell because of an immigration policy of Trump. The pound sterling has appreciated by 0.2 percent to $1.2516, but still remains near the weekly low of $1.2466 against the background of market nervousness in anticipation of the Bank of England meeting on Thursday.
 
Greetings,
We are just siting on support. Sterling may continue to loose before the BoE on Thursday, but lets see how the price will handle here 1.2410/20
 
The pound recorded a slight decrease against the dollar during the first day of the week. British currency justified the negative expectations and the couple came to the support at 1.2408. If the downward momentum continues in the future, the key level will be breached. Session on Monday launched at a price of 1.2587 as bearish sentiment prevailed from the start. Once the bottom was reached during the day at 1.2465, the pound regained some of the lost positions. The finale was put on a course of 1.2485.
 
Key levels to watch for:
Support: 1.2408; 1.2252;
Resistance: 1.2672; 1.2775.
 
Pound/dollar had a bearish momentum yesterday, bottomed at 1.2465. The bias is bearish for now to test 1.2500 - 1.2465. Overall, however, the price is still in bullish phase after the bounce from 1.2000 psychological level and any downside pullback should be seen as a good opportunity for long positions with targets near 1.2790.
 

British Pound Falls Hard as Bank of England Lending Data Points to a Jaded Consumer


Pound Sterling is under pressure as the latest data out of the Bank of England weighs on sentiment.

Normally markets wouldn’t take much notice of Bank of England lending data, but it appears they might have been spooked by today’s figures.

Bank of England consumer credit supply grew by £1.039BN in December, well below the £1.7BN forecast by economists suggesting a waning appetite for credit.

Is the British consumer - the mainstay of the UK economic growth story - finally getting a little weary?

Markets appear to be betting so.

"Sterling fell hard in morning London dealing today after a series of UK credit reports missed their mark. The pair was down nearly 100 points off its highs dropping to a low of 1.2412 before finding a modicum of support," says Boris Schlossberg, Director at BK Asset Management.

read more

 
GBP/USD - If we assume that formation as a confirmed flag, then we may expect test at 1.2670 in short term. On the other side, market may enter in "awaiting" moment until BoE
 
I expect the sideways trading to continue.
1...373839404142434445464748495051...128
New comment
Reason: