GBP/USD forecast - page 68
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The pair has formed a pair of inverted hammer candlesticks on the weekly time-frame at the support at 1.3300, the move to the upside will likely continue.
As you can see from the chart of GBPUSD H4, we have a flat that lasts two weeks. A reversal figure of the technical analysis of the triangle was formed:
In the narrow place of the triangle we have only 40 pp (4). That is, we have a calm before the storm. There must be a strong movement in any direction. When will this movement occur? Definitely not in this year 2017. Perhaps the price will push in any direction the nearest NonFarm on January 5, 2017.
The pound recorded a slight increase against the dollar on Tuesday. The pair failed to break the narrow range of the past few days, but short-term expectations remain in favor of the British currency. In this case, the resistance at 1.3420 is still in risk. Tuesday's session was opened at a 1.3364 rate and the closing price was 10 pips higher. The trend was neutral at first, with the bullish sentiment prevailing in the afternoon, marking a peak for the day at 1.3388.
Key levels to watch for:
Support: 1.3299; 1.3260;
Resistance: 1.3420; 1.3464;
GBP/USD regained 1.34 level today on broad US dollas’s weakness and also broke above the daily descendant channel that started from late November. Expexting a test of next resistance level at 1.3465.
GBP/USD retraced back below 1.3400 but a further move to the upside towards 1.3450 is still likely.
seems like... 75%
GBP/USD reached 1.3450, a breakout above that resistance could lead to move up to 1.3500 and above.
It broke out above 1.3500 and continues moving to the upside, next target will likely be at 1.3600, or even 1.3655.