GBPUSD Monthly & Weekly support and resistance
There is a symmetrical tangle appear on GBPUSD 30 M chart.It is mainly
considered to be a continuation pattern of previous trend. So watch
carefully at the descending R L that the price breaks out of the tangle
increase of havey volume.
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Sergey Golubev, 2017.04.22 10:58
Weekly Fundamental Forecast for GBP/USD (based on the article)
GBP/USD - "The big item on the economic calendar for the U.K. next week is GDP set to be released on Friday morning. The expectation is for 1.9% annualized growth, and this could produce a direct relationship with price action where beats bring on higher prices while a miss elicits selling. More opportunistic for GBP-volatility will be the next Bank of England Super Thursday event on May 12th. This is when the Bank will publish updated inflation forecasts and this is when markets can get a better pulse on just how concerned the bank might be on the topic of rising inflationary forces. There is scant expectation for any movement in rates at that meeting; but given that the last BoE rate decision produced the first vote for a rate hike post-Brexit, the point of interest will be in the details to see as to whether or not any other members of the MPC are growing more comfortable with the idea of tighter policy options in the near-term."
Sergey Golubev, 2017.04.26 13:12
GBP/USD - daily bullish ranging within 1.2755/1.2904 levels for direction (based on the article)
Daily price is on bullish market condition to be above 200 SMA for the ranging within narrow s/r levels:
GBPUSD Channel Breakout
Sergey Golubev, 2017.04.29 17:23
GBP/USD - "The marked slowdown in private-sector consumption, one of the leading drivers of growth and inflation, may prompt the central bank to revisit its economic assumptions as officials warn ‘market-based measures of inflation compensation had remained low; survey-based measures of inflation compensation were little changed on balance.’ Moreover, NFPs may continue to fall short of market expectations as the labor market appears to be at or near full capacity, and a series of dismal developments may fuel the relief rally in GBP/USD as market participants push back bets for the next Fed rate-hike."
Sergey Golubev, 2017.05.05 11:33
GBP/USD - daily bullish ranging for direction (based on the article)
Daily price is above Ichimoku cloud for the primary bullish market condition with the narrow ranging within the bullish continuation resistance level at 1.2964 and correctional support level at 1.2774.
Sergey Golubev, 2017.05.06 13:25
GBP/USD - "The Bank of England’s (BoE) interest rate decision on May 11 takes center stage as the central bank also presents its updated quarterly inflation report, and the fresh developments may fuel the relief rally in the GBP/USD exchange rate should a growing number of officials show an increased willingness to normalize monetary policy. With that said, market participants may pay increased attention to the slew of Fed speeches on tap for week ahead as a bulk of the 2017-voting members (Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, New York Fed PresidentWilliam Dudley, Chicago Fed President Charles Evans and Philadelphia Fed PresidentPatrick Harker) take to the wires. With Fed Fund Futures now pricing nearly an 80% probability for a June rate-hike, officials may increase their efforts to prepare U.S. households and businesses for higher borrowing-costs, and a slew of hawkish commentary accompanied by a more detailed exit strategy may tame the resilience in Cable especially as the Federal Open Market Committee (FOMC) beings a broader discussions in unwinding the balance sheet."
Sergey Golubev, 2017.05.11 11:02
Trading the News: Bank of England (BoE) Interest Rate Decision (based on dailyfx article)
Bullish GBP Trade: BoE Boosts Economic Forecasts, Reveals Larger Dissent
Bearish GBP Trade: More of the Same From Governor Mark Carney & Co.
Daily price is located above Ichimoku cloud in the bullish area of the chart.
GBP/USD M5: range price movement by BOE Official Bank Rate news event