The technical analysis of the Pound to US Dollar (GBP/USD) pairing adds another layer to the narrative. The currency pair is currently approaching a critical support level at $1.265, representing a potential pullback point. This level aligns with a confluence of Fibonacci levels, including the 50.0% retracement and the 61.8% projection levels. This confluence ...
On Wednesday, the GBPUSD fell sharply during the European session as UK inflation for November came in below expectations. The fresh weakness is expected to completely reverse Tuesday's gains and challenge key support at 1.2636. With the overall decline of the GBPUSD, bears are expected to test the starting point of the upward impulse waves. Subsequently, the...
On Wednesday, the GBPUSD fell sharply during the European session as UK inflation for November came in below expectations. The fresh weakness is expected to completely reverse Tuesday's gains and challenge key support at 1.2636. With the overall decline of the GBPUSD, bears are expected to test the starting point of the upward impulse waves. Subsequently, the...
After a test of an intraday horizontal resistance, GBPUSD formed a descending triangle formation on an hourly time frame. I expect a bearish movement to the closest horizontal support. Goal - 1.2554 ❤️Please, support my work with like, thank you!❤️
GBP/USD's slight upside in the second release, powered by the rebound from the main trendline. However, it is important to realize that this movement overlaps with Labor Day in the United States. This timing adjustment may contribute to the deletion of missing accounts on the current field, which could potentially affect its position. As attention turns to...
GBP/USD fell on Tuesday, extending its drop for a second consecutive day after failing to clear a key ceiling near 1.2720, which corresponds to the 61.8% Fibonacci retracement of the July/October slump. Should losses deepen this week, it is important to watch how prices behave around the 1.2590-1.2570 support zone, bearing in mind that a breakdown could expose the...
GBPUSD failed to find acceptance above the 1.2700 mark on a daily timeframe, spending the best part of 5 days attempting to break higher. Having printed a fresh high however, the pair was in line for a retracement which has been facilitated by a return in US Dollar Strength. The question now will be whether we can push on toward the 1.2500 handle and beyond? There...
GBP/USD has risen sharply over the past three weeks, logging solid gains that have coincided with a shift in favor of riskier currencies at the expense of the broader U.S. dollar. After recent price developments, cable is flirting with overhead resistance at 1.2720, defined by the 61.8% Fib retracement of the July/October selloff. If the bulls manage to clear this...
The British pound has been heavily influenced but the US dollar of recent with investors becoming less hawkish on the Federal Reserve’s interest rate path. Recent weaker US economic data has prompted such an outlook alongside some dovish Fed commentary. During yesterday’s US trading session, the 2nd estimate on US GDP surprised to the upside but the market...
GBP/USD has been on a bullish tear in November, rising nearly 4.5% since the beginning of the month. After Tuesday's gains, the pair has reached its best level since late August, but has been unable to reclaim the 61.8% Fibonacci retracement of the July/October slump (1.2720). If this ceiling holds, the upside momentum could run out of steam, paving the way for a...
The GBP and Cable in particular has had a mixed start to the week, fluctuating between gains and losses. Markets in general were a bit slow today ahead of what is a relatively busy week on the data front. The UK, however, does not have any high impact data releases with GBP pairs likely to face external threats. The UK faces a quiet week on the data front...
Sterling was last 0.06% lower at $1.2598, but hovered near Friday's over two-month peak of $1.2615, on data last week showing that British companies unexpectedly reported a marginal return to growth in November after three months of contraction. "That indicates the resilience of the UK economy despite the very aggressive monetary policy tightening from the Bank of...
GBPUSD is a bit clearer as we can see a clear pattern of higher highs and higher lows this week. The question will be whether bulls have one more push to the upside and push Cable toward the 1.2600 handle. If we do break below the 50-day MA we have support at the 1.2400 mark and lower at the 1.2360 mark. A selloff ahead of the weekend may also be on the cards as...
would like to see work with liquidity lower to confirm OF with targets of London High, but provided that the price is not fixed below
#EURUSD 1D timeframe. last week we received a strong reaction after overlap the imbalance zone. Then also removed liquidity below, which will serve as fuel for further movement.
GBPUSD stabilizing above 1.2172 will support rising to touch 1.2251 then 1.2322 then 1.2417 stabilizing under 1.2172 will support falling to touch 1.2122 then 1.2072 pivot price: 1.2172 Resistance prices: 1.2251 & 1.2322 & 1.2417 Support prices: 1.2122 & 1.2072 & 1.2037 timeframe: 4H
The dollar fell slightly in mid-session after data for US retail sales rose more than expected in September, as consultants focused on a series of speeches from government agencies. US Federal Reserve (Fed) officials. Marc Chandler, Chief Market Strategist at Bannockburn Global Forex, said: “The view that the US economy slowed in the fourth quarter is because...
Hello Traders Investors And Community, welcome to this analysis where we are looking at GBPUSD weekly timeframe perspective, the massive formation it is building up there, what we can expect from it and what it needs to fulfill for a proper confirmation of this huge formation. The last months and weeks GBPUSD was in a steady but week downtrend with several lower...