GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week

GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below 1.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With UK and US inflation dropping next week, the downside risks for the currency pair remain intact. Read more...

GBP/USD rebounds back above 1.3000 after hitting lowest levels since November 2020

GBP/USD hit its lowest level since November 2020 at 1.29817 in earlier Friday trade, weighed at the time by a broad strengthening of the US dollar that say the DXY momentarily eclipse 100 for the first time in nearly two years. But the currency pair has since rebounded to around the 1.3030 level, erasing the day’s losses to about 0.3% versus around 0.7% at worst levels. Read more...

GBP/USD

Overview
Today last price 1.3016
Today Daily Change -0.0061
Today Daily Change % -0.47
Today daily open 1.3077
 
Trends
Daily SMA20 1.3123
Daily SMA50 1.3317
Daily SMA100 1.3368
Daily SMA200 1.3546
 
Levels
Previous Daily High 1.3107
Previous Daily Low 1.3052
Previous Weekly High 1.319
Previous Weekly Low 1.3051
Previous Monthly High 1.3438
Previous Monthly Low 1.3
Daily Fibonacci 38.2% 1.3086
Daily Fibonacci 61.8% 1.3073
Daily Pivot Point S1 1.305
Daily Pivot Point S2 1.3023
Daily Pivot Point S3 1.2995
Daily Pivot Point R1 1.3105
Daily Pivot Point R2 1.3133
Daily Pivot Point R3 1.316

 

GBP/USD Elliott Wave: Forecasting the short term path

In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD.  The pair has given us nice trading opportunity recently.  We have been selling the rallies at 1.3298-1.3348  area as explained in previous article on GBPUSD . Reasons for calling further weakness in pair are bearish sequences in the cycle from the June 1st 2021 peak.  We recommended members to avoid buying and keep selling rallies in 3,7,11 swings when get a chance. In further text we are going to explain the Elliott Wave Forecast. Read more...

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