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Gbpusddaily

GBP/USD surges to 1.3360 but then retreats GBP/USD surges to 1.3360 but then retreats On hourly chart the British Pound is continuing to gain value against the Dollar in a two-week long ascending channel. Generally, the cable is projected to continue heading to the top in the above pattern using support continuously provided by the rising 55- and 100-hour SMAs. The ultimate goal is located near the 1.3430 level and presents location of the upper boundary of a long-term dominant descending channel. However, before that the surge of the currency rate is likely to be stopped in the 1.3370-1.3380 resistance area. In case of retreat, strengthening of the buck in unlikely to exceed the 1.3300 mark, as this support zone is backed up by the updated weekly PP and the above 100-hour SMA. Finally, the only macro release, which might cause notable volatility will the US Prelim GDP.
by UnknownUnicorn890690
GBP/USD trades at crossroad of two channelsGBP/USD trades at crossroad of two channels On Friday, after reaching the 1.3250 mark the cable made a sharp turnaround and slipped back to the 1.3180 level. From fundamental point of view, this movement matched with release of better than expected American housing data. But from technical perspective it signified a rebound from an intersection of upper boundaries of two large descending and ascending channels. In this way bears have outlined strong resistance area through which the pair is unlikely to climb without proper upside momentum. For this reason, the currency rate is expected to make another reversal even though the bottom trend-line of a junior ascending channel provides perfect support for gradual soar. The upcoming movement to the south is additionally supported by the aggregate market sentiment, which is 51% bearish.
by UnknownUnicorn890690
GBP/USD ready for another attempt to jump to 1.3230GBP/USD ready for another attempt to jump to 1.3230 As release of British employment and earnings data, generally, was perceived positively, the Pound expectedly climbed to the 1.3200 level. Nevertheless, a subsequent release of the American retail sales and inflation data neutralized this achievement by returning the pair back to combined support area formed by the 55-, 100- and 200-hour SMAs near the 1.3135 mark. After making a rebound the cable resumed the surge. Second day in a row bulls are hoping to use macroeconomic data release to push the rate to the pre-fall 1.3230 level. Whether they succeed or not will mainly depend on the UK retail sales growth rate. There just a need to take into account that the pair is unlikely to climb above a combination of the monthly PP and upper edge of dominant channel from the north and the above MAs from the south.
by UnknownUnicorn890690
GBP/USD spikes to 1.3230 but then dropsGBP/USD spikes to 1.3230 but then drops A release of better than expected growth rate of the UK Manufacturing Production created an upside momentum that enabled the pair to return back to the 1.3228 level. However, then fears of growing political risk in Britain and Trump’s participation in the ASEAN summit strengthen the buck and dragged the exchange rate to support area near the 1.3120 mark. On the one hand, the further road to the bottom is obstructed by the lower support line and the 23.6% Fibonacci retracement level. However, if the current bearish pressure continues this barrier may not sustain. In that case, the cable is going to test the next support zone lying around the weekly S1 at 1.3090. It should be noted that recovery of the Pound also looks unlikely, due to pressure from the falling 55-, 100- and 200-hour SMAs.
by UnknownUnicorn890690
GBP/USD forms ascending triangle patternGBP/USD forms ascending triangle pattern During the previous trading session the currency rate expectedly returned back to the 1.3110 mark, which represents location of the 23.6% Fibonacci retracement level. As this barrier was additionally backed up by the 55-hour SMAs, it made a rebound. However, the fact that the cable failed to climb above the 50% retracement level at 1.3180 two times in a row as well existence of a slope that lies along rising 55-hour SMA indicates on existence of a minor ascending triangle pattern. If this assumption is true, then the pair is likely to make a breakout to the top already by the end of the day due to existence of combined support barrier formed by above 55- and 100-hour SMAs, the 38.2% retracement level and the weekly PP at 1.3150.
by UnknownUnicorn890690
GBP/USD inches higher amid GDP reportMorning outlook - GBP/USD inches higher amid GDP report According to the Office for National Statistics, the temps of growth of British economy spiked to 0.4% in the third quarter. This news gave the cable an upside momentum, which it used to break through the upper trend-line of a dominant descending channel. As there are no significant UK or US data releases planned for today, bulls might use this lull to elevate the pair to the weekly R1 at 1.3306. In support of this assumption, there is need to take into account that some of the Pound traders are simultaneously following the ECB meeting and are trying to push the Sterling in parallel with the Euro. On the other hand, bears might use an area between the 1.3285 and 1.3290 marks to either halt or even turnaround the pair.
by UnknownUnicorn890690
GBP/USD returns to 1.3200Morning outlook - GBP/USD returns to 1.3200 Despite a sharp fall after release of worse than expected data about the UK retail sales, the cable managed to bounce off from the bottom trend-line of a large ascending channel and by Monday morning restore lost positions returning back to the 1.32 level. However, the pair is not expected to climb higher this day, as the further road to the north is obstructed by a combination of the 200-hour SMA and the upper edge of a dominant descending channel, which has already managed to neutralize the surge couple of times. But even in the case of a breakthrough in weekly perspective the Pound is likely to lose value against the Dollar because of release of information on the UK Preliminary GDP, which might appear to be below the 0.3% growth rate.
by UnknownUnicorn890690
GBP/USD loses 100 points Morning outlook - GBP/USD loses 100 points Although inflation report matched with forecasts and Governor Carney once again admitted possibility of interest rate hike, the Pound lost almost 100 points against the Dollar just in couple of hours. Such keen reaction shows that the main investors’ concern is related to success of the Brexit talks. From technical perspective, the cable passed through the 200-hour SMA and now is facing to other support barriers on its way up until the 38.2% Fibonacci retracement level at 1.3145. In this sense, the pair is expected to continue to slip to the bottom. However, there is a need to take into account that after such sharp falls traders usually tend to restore lost positions, which means that an area near 1.326 might become a target once again (as long as market sentiment remains predominantly bullish).
by UnknownUnicorn890690
GBPUSD BUY STOP - 16/10/2017 The Pound is still trading a little bit above the support level 1.3225 - 1.3254, where large volume is concentrated. So our previous scenario of opening long positions is actual for this currency pair. We can enter the market after a resumption of the growth of the price after a test of the support level or a smooth correction to it. A stop loss should be placed below the support. A potential of the deal is 150+ points. The bottom line: long positions are in priority.
Long
by trustbrokergroup
GBP/USD BUY - 13/10/2017 Yesterday GBP/USD showed a V-pattern: first the price fell on the average volume, and then it grew rapidly, with the upward price movement was on very large volume and completely absorbed the previous fall of the pair. This price movement is an excellent bullish signal.Also it is worth noting the formation of a new support level of 1.3225 - 1.3254, in which large volume is concentrated. Given all of the above facts, it is worth giving preference exceptionally to long positions for the pound. We can open long positions after the resumption of price growth, especially if before that, it will test the level of support. A stop loss should be placed just below this level. The potential of the deal is about 150-160 points. The bottom line: long positions are in priority.
Long
by trustbrokergroup
GBP/USD tries to cross 55-hour SMAMorning outlook - GBP/USD tries to cross 55-hour SMA Despite the release of better that expected American income data, the Greenback failed to exploit this fundamental background and eventually depreciated against the Pound. At the moment, the pair is going to start testing a combined resistance set up by the upper trend-line of a recently formed descending channel and the 55-hour SMA. As majority of traders remain bullish, the rate might briefly sneak to the top, trying to reach the 38.2% Fibonacci retracement level at 1.3145. However, an aggregate of technical indicators points out on the further downfall of the rate via sending strong sell signal. This direction seems evident also from larger perspective, as a couple of weeks ago the pair made a rebound from the upper boundary of a long-term descending channel.
by UnknownUnicorn890690
GPBUSD: THE HILLS!Hi traders! (This analysis was already shared with current students last Friday) GU dropped quite a lot since that super strong bullish breakout. It is all normal behaviour since this run didn't have no real corrections, no real breathers, no nothing! Also, this happened along with the other majors pairs that got pounded vs USD. Now that the DXY somehow slowed down and hit a invisible resistance, all majors pairs today are back in green vs USD MACD giving us early signs of a potential pullback RSI couldn't really go beneath 50 Here is what I'm thinking: GBPUSD LONG: ENTRY : 1.30576 SL : 1.329881 TP : 1.32992 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
GBPUSD : THE NAME'S LONG!?Hi traders! We have one very interesting setup right here. As you can all see, GBPUSD is ranging in this 100 pips zone since it's breakout. Amazingly, it finds the way to close multiple days at approximately the same price. Also, this lines up perfectly with a previous huge drop dating back to 2009. If this holds true, we may have this new support for quite some time. Even though MACD fell quite a lot, the price couldn't really break that support. RSI still high DXY couldn't break the resistance for a third time in a row... GBPUSD LONG: ENTRY : 1.35127 SL : 1.34163 TP : 1.36986 TRADE SAFE! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
GBP/USD advances by another 150 pointsMorning outlook - GBP/USD advances by another 150 points As it was expected, the Pound continued to appreciate against the US Dollar, following a speech delivered by the External BOE MPC Member Gertjan Vlieghe on Friday. At the moment, the currency rate is moving horizontally in a limbo between the monthly R3 at 1.3701 from the top and the monthly R2 at 1.3485 from the bottom. However, it should be noted that space between the current market price and the above two barriers amounts approximately to 100 pips in both directions. Most probably, the pair is going to continue to move horizontally until the moment when Governor Carney will start answering questions at the Central Banking Lecture hosted by the IMF at 15:00 GMT. Taking into account previous market reaction on similar two events last week, another sharp surge is likely to follow.
by UnknownUnicorn890690
1
GBP/USD surges by 124 pips amid BoE decisionMorning outlook - GBP/USD surges by 124 pips amid BoE decision A decision of the Bank of England not to change the Official Bank Rate was expected to lead to sharp depreciation of the Pound. This assumption was based not only on historical market reaction on similar fundamental event but also technical analysis. Namely, on a daily chart prior to release the currency pair hit the upper edge of a long-term rising wedge and, in essence, had to make a rebound. Contrary to expectations, bulls pushed the pair in the opposite direction. As a result, the Pound has appreciated against the Greenback by 1.40% just in couple of hours, in the process leaving the dominant formation. Now the pair faces only two barriers on its way, i.e. the weekly and monthly R2 at 1.3425 and 1.3485. Thus, a short-term rebound might follow. But, generally, the pair is expected to continue to move to the top.
by UnknownUnicorn890690
Short GBPUSD Breakout Long Term Based on D+W TF For 330 PipsI've been out of action for a while but hopefully back with full force :) We broke out from our rising wedge and now waiting for the pullback before entering a sell position and a long term target of 1.27786 This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786