The British pound record also recorded a significant increase against the US dollar on Wednesday. The currency pair added 97 pips and the pound managed to break the first resistance at 1.0390. Daytime extreme values were reached at 1.3000 and 1.3123 respectively. If the price continues to rise, we can expect a resistance test at 1.3270.
Key levels to watch for:
Support: 1.3090; 1.2700; 1.2516;
The British pound also recorded a decline against the US dollar on Thursday. Session started at 1.3120 and the pound lost 56 pips. Graphics continued to grow above the creeping averages, while the relative strength index remained neutral. Establishing the pair above 1.3090 will be indicative of the interest of the bulls, whose next target is the resistance at 1.3270.
GBP/USD has been really choppy lately. I'm out of this pair for now.
GBP/USD hovering around 1.31, the pair looks fragile in the choppy environment lately.
The dollar pulled 84 pips out of the pound. At the beginning of the day one British pound was exchanged for $ 1.3198, and the course headed for resistance at 1.3250. By noon the bulls managed to break through and peaked at 1.3265, but three hours later the bears took their bottom at 1.3112. The last quotation for the day was 1.3137.
Support: 1.3030; 1.2860; 1.2690;
Resistance: 1.3250; 1.3380.
Pound / dollar made a downward movement yesterday with a bottom of 1.3112. Short-term expectations are downward, support 1.3125 - 1.3075 is a good place to place purchases.
The GBPUSD continues dropping today after the NFP numbers and breaks below the 1.3100 level to reach a low at the 1.3037 level. The pair may reach the 1.3000 level during next week.
GBP/USD has moved a bit to the downside. Possibly market sentiment could switch from bullish to bearish for the week. The US dollar seems strong.