The British pound recorded a modest rise against the US dollar on Friday. The currency pair started at 1.3192 and the pound recorded a volatile session. The price jumped from the resistance at 1.3260 and the pair finished at 1.3216. Breaking the levels at 1.3260 or 1.3100 will be indicative of prevailing attitudes.
Key levels to watch for:
Support: 1.3100; 1.2975;
Resistance: 1.3260; 1.3440;
The British pound recorded a volatile session against the US dollar on Monday. The currency pair added 18 pips to a closing price of 1.3233. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the price continues to rise, the pound will focus on the resistance at 1.3260.
The British pound recorded a significant increase against the US dollar on Wednesday. The currency pair opened at 1.3237 and the price managed to break the first resistance at 1.3260. The pound finished at 1.3323 and in the short term the outlook remains positive, the immediate target is 1.3440.
GBP/USD is climbing steady this week. I think the trend have more power in itself.
Gbp/Usd seems has lost it upside momentum, hovering around 1.33 level, break above 1.3360 would send the pair back to its bullish trend. Focus will be on possibility of missing the EU's deadline over the Brexit divorce bill.
An extremely dynamic session recorded the pound against the dollar on Monday. Despite the volatile trend, however, the opening price was close to closing at 1.3320 and 1.3316, respectively. At first, the moods dominated and the pair reached a peak at 1.3382, breaking the first resistance at 1.3371. Subsequently, the pound totally lost its accumulated positions.
Support: 1.3244; 1.3206;
Resistance: 1.3371; 1.3455;
The pound recorded a second consecutive volatile session against the dollar on Tuesday. Trading was open at a rate of 1.3316, as in the early hours the bearish sentiment was leading. So the pair broke the first support at 1.3244, after being hit bottom for the day at 1.3221. Subsequently, the trend sharply changed and the final was put in favor of the British currency at 1.3337. If the bullish moods continue, the resistance at 1.3404 will be tested.
The Sterling saw massive buying this week. Good news coming from the UK.