GBP/USD forecast - page 47

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Uneventful week for the Pound. Although the pair went down in teh beginning of the week, the GBP/USD pair is now back at previous level around 1.2550.
 
The pound recorded a sharp rise against the dollar on Thursday. British currency acquitted positive expectations and recorded substantial progress against the dollar. So the pound offset losses and get out of the narrow range in which varied past few sessions. Meanwhile, resistance at 1.2524 has been overcome and if bullish sentiment continues, the pair will test the level at 1.2576. 
 
Key levels to watch for:
Support: 1.2382; 1.2345;
Resistance:  1.2524; 1.2576.
 
On Tuesday, trading in Europe is relatively quiet. In anticipation of the President's speech the United States, major currency pairs traded in limited price ranges.
GBP/USD is consolidating in the range 1,2412-1,2450. The mood against the pair remains negative due to the growth of EUR/GBP. It will change in a positive way, if there is a break above 1.2452. Increasing the price above this level could provide a fresh impetus for a breakthrough to 1.2480.
 
GBPUSD (Forex Picks)1.2221 -0.36% - Down
 
The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
The pair GBP/USD fell by 0.32% to a minimum of six weeks at 1.2226.
 
Gbpusd on last candle this week figured bullish candle with demand pressure after on previous daily on the week movement has tendencies to bearish, and all trader waiting next week to start again
 
On Friday, the dollar fell against other major currencies. Traders continued to take profits after a recent rise in price of the dollar to a maximum of seven weeks. However, the depreciation of the dollar is limited because of the increasing likelihood of higher interest rates in the US this month. 
The pair GBP/USD fell by 0.29% to a minimum of six weeks of 1.2230 after a research of group Markit said that last month the index of business activity in the manufacturing sector (PMI) fell to the UK five-month low of 53.3 against the values 54.5 in January. Analysts had expected in February to reduce this figure to 54.1. Later the pair rose to 1.2297.
 
Key levels to watch for:
Support: 1.2220; 1.2120; 1.1627;
Resistance: 1.2420; 1.2558; 1.2690;
 
I'm long the Sterling, let's see how the week goes. Good support levels.
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