GBP/USD forecast - page 58
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The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2878, gaining 0.08%. I believe that support is now at around 1.2832, the low of Friday's trading, and the resistance is likely at 1.3024, Monday's high.
The pound/dollar currency pair registered a volatile session on Friday. The session started at 1.2867 and finished 8 pips higher. During the day the support at 1.2860 was broken, and it was enough for the bears to score at 1.2831. Peak for the day was reached at 1.2915.
The pound rose by 34 pips against the US dollar on Monday. The session was opened at 1.2864, and the last day's quote was 1.2898. During the day, the support at the 1.2860 level broke down, with the bears recording lows at 1.2849. Bulls peaked at 1.2915.
The dollar took 76 pounds of pound assets during trading on Tuesday. The session started at 1.2898, and the bulls prevailed over the bears only in the first four hours, reaching a peak of 1.2908. From that moment of the day, bear players dominated the market and led the course to the bottom at 1.2810 after the support was broken at 1.2860. At the end of the day, the currency pair was 1.2822.
Difficult to trade lately... I hope it gets more clear next week.
The pair has a huge gap up and currently trading just above 1.290 level after Labour policy shift on single market.
The pair is difficult to trade lately. I'm waiting for better days.
Brexit negotiations are showing ''no progress'', so does Pound. The pair is consolidating around 1.2950/60, no clear directional strength.
Pair is being dormant lately, Maybe September will act as a catalyst.