GBP/USD weekly double top pattern, long term target 1.3100 [Video]
Watch the video for a summary of today’s news releases, a review of the USD Index, and a complete Top-Down Analysis of the GBPUSD. Weekly support at 1.3800 and 1.3669, resistance at 1.4009 and 1.4242. Read more...
GBP/USD Analysis: Not out of the woods yet, Powell’s testimony eyed for fresh impetus
The GBP/USD pair struggled to capitalize on the previous day's solid rebound of nearly 150 pips from two-month lows and faced rejection near 100-day SMA on Tuesday. The momentum dragged the pair back below the 1.3900 mark during the early European session and was sponsored by a combination of factors. The UK government's decision to delay the final stage of easing lockdown measures – amid a surge in COVID-19 cases infected by the so-called Delta variant – dampen prospects for a rapid UK economic recovery from the pandemic. Read more ...
GBP/USD flirts with session lows, around 1.3900 mark
The GBP/USD pair maintained its offered tone heading into the European session and was last seen hovering near the lower end of its daily trading range, around the 1.3900 mark.
The pair struggled to capitalize on the previous day's strong intraday rally of nearly 150 pips from two-month lows and faced rejection near 100-day SMA on Tuesday. Following the previous day's modest pullback, the US dollar was back in demand and remained well supported by the Fed's sudden hawkish turn last week. Read more...
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