GBP/USD forecast - page 24

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GBP is artificially supported now. For how long?
 
The pair has been consolidating sideways above 1.2150 for a while now, and it has formed several spinning top bars on the four-hour time frame, so there might be some retracement in the near future, but I think that the overall trend remains bearish for the moment.
 

GBP/USD: A Rebound From Current Levels To Target 1.2650


GBP should rebound from current levels with GBPUSD projected to reach 1.2650 as reports suggest the government is considering alternatives to hard Brexit.

The FT reports that the UK may be prepared to keep paying billions to maintain single market access for the City, and reported over the weekend that a foreign car producer in the UK was assured by Mrs May that its export competitiveness would not be hit by the result of Brexit negotiations.

The market is short GBP suggesting that the chance of the UK’s government negotiation stance may provide GBP with a temporary rebound. BoE’s Carney suggesting that the exchange rate will have an impact on how the BoE’s conducts its policy may limit the downside for GBP, for now.

source

 

100 pips Asian session. Haven't seen one for a long time :)

What is new?

 
The US dollar took a break in the Asian session on Tuesday after recent gains, retreating from the seven-month high against a basket of major world currencies, as investors assessed the likelihood of the Fed raising interest rates in the coming months.
The British pound gained 0.35 percent, rising to $ 1.2224.
 
GBP/USD bounced off 1.2135 after forming a doji and a spinning top candlestick on the four-hour time-frame. For now it's testing the resistance at 1.2300, but it will likely continue rising.
 
whisperer:

100 pips Asian session. Haven't seen one for a long time :)

What is new?

Back to usual Asian session.
 
EUR/USD remains slightly bearish and is still testing the support at 1.0960 - 1.0950. I doubt there will be a breakout before the fundamentals tomorrow.
 
It is starting to find a support. Waiting for the next test of level 1.2
 
The British pound recorded a neutral session against the US dollar on Wednesday. The pair opened at 1.2292 and the price managed to break the resistance at 1.2300 twice. In the end, the pound ended at 1.2283 and if the downward trend continues couple will move to the next support at 1.2120.
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