GBP/USD (part 58)

[meowsyub93]

Good morning everyone!

Last Friday on the daily chart, the pound tested the local resistance level at 1.28114, as a result of which the price bounced back and formed an uncertainty pattern with a slight bearish advantage. Now, I hold neutrality for this pair, and am waiting for trading setups near the mentioned resistance level. If the price breaks out and consolidates above it, the pair will move up towards the local resistance level located at 1.29804. If the pair also breaks and consolidates above it, further movement will head to the local resistance located at 1.31744. But if there comes a rebound from 1.28114, the downward move will resume, the next reference point for which will be the local support level located at 1.26415. If GBP/USD consolidates below this level, price will decline even lower towards the local support level located at 1.22945.

[jessicaraven]

The GBP/USD currency pair bounced back to the upper border of the descending channel and fell by 262 points at 1.3034 to 1.2772 levels yesterday based on the H1 chart. It is currently at 28th figure below the resistance levels of 1.2869 and 1.2967. The probability of selling the pair at the support levels of 1.2705 and 1.2607 is considered by Thursday.

[ElioShellman98]

The pair is currently trading above the opening of the day which is at 1.2805. My analysis for today is that, if the price manages to reach above the level of 1.2835, then the pair will most likely move upward with the target at the level of 1.2869. If this level is broken, the upward trend may continue with the next target of 1.2939. On the other hand, if the price trades below the level of 1.2775, then a downward trend is possible with the target at the level of 1.2745. A breakdown of this level may force further decline to the level of 1.2720.

At the moment, the pair is trading below the daily pivot level and below the main trend line MA72. So far the indicators on the H1 chart suggest a possible growth. This, I will only look forward to if the price manages to trade above the level of 1.2835. If not, then I expect a downward pullback.

[FxTaylor]

The GBP/USD pair is trading at 1.2825 - that is above Friday’s low of 1.2754. This price is significantly lower compared to this month’s high of 1.3485. On the 4-hour chart, the price is below the 50-day and 100-day exponential moving averages (EMA), while the relative strength index (RSI) is moving below 30, suggesting an oversold situation. The MACD line and its signal line are at the lowest level in months. Consequently, since issues related to Brexit remain unsolved, the pair is likely to continue going down as bears’ target is the level of 1.2500.

[crazyprofit]

The pound/dollar pair is trading flat in the morning session and is holding near the 7-week low. The pound is pressured by the rising uncertainty around the UK and EU relations after Brexit.

Last week, the British pound depreciated against all other majors amid this background.


In the first half of the day, the pair is likely to go through a moderate upward correction. However, the downtrend should prevail on the pair. The pair is currently trading under bears’ control. A possible pivot point is seen at 1.2885, and I’m planning to sell below this mark with the targets at 1.2775 and 1.2725. Otherwise, the pound/dollar pair will start to rise and will break above the level of 1.2885. After settling there, it may continue the correction to the levels of 1.2905 and 1.2925.