GBP/USD forecast - page 65
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The uncertainty with Brexit negotiations continue affect Pound, support level can be found around 1.3420, break below will deeper the bearish correction movement.
The British pound recorded a volatile session against the US dollar on Monday. The currency pair opened at 1.3436 and finished 42 pips higher. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the direction is maintained, there may be an attempt to test the first resistance at 1.3540.
Good move on the cable lately.
GBP/USD is testing the support at 1.3370. If it breaks out below that level it will likely keep moving to the downside towards 1.3320.
GBPUSD on D1 has been moving up in the channel for 12 months:
Therefore, do not assume that in the near future it will come out of this channel. Columns of the MACD chart are also directed upwards. At the top, we have a strong resistance at 1.3840. Therefore, I think we should keep the deal up to 1.3840. Transactions should not be opened down.
Brexit talks are finally getting somewhere, getting a deal, but it does not guarantee a trade deal for March 2019. Pound short term turned to the downside.
I agree, the pair is quite bearish for now. It will probably fall to 1.3300 soon and it may break out below that level too.
GBP/USD is showing limited upward potential. Stronger impetus the pair will get on Thursday when BoE will announce its monetary policy decision.
The pair remains quite bearish for now. Depending on the fundamentals it could break out below 1.3300 and fall way below that level.