GBP/USD outlook: Fresh recovery needs more evidence to confirm reversal
Cable extends gains into the second straight day, following Wednesday’s 0.6% rebound after being firmly in red for four consecutive days.
Bullish signal from Wednesday’s bullish engulfing was boosted by return and close above 200DMA, with today’s bullish close required to confirm reversal signal.
Bullseye initial targets at 1.3780 (10DMA/Fibo 61.8% of 1.3910/1.3571) and 1.3800 (20DMA), break of which would accelerate recovery.
Caution on rising bearish momentum which is diverging from price action and warning of possible recovery stall. Read more...
GBP/USD up move as expected
Currently, more than 100 pips of profit has been made from the GBPUSD longs. We can see that the market is bullish.
The POC zone perfectly bounced off the GBPUSD as the essential support has been made. We can see that the upward trend is persisting and I advise protecting profits for everyone who entered long in the POC. Targets are 1.3750 followed by 1.3952 and 1.4080 as a part of a swing trade. Only if the market breaks below 1.3550 it will invalidate the bullish trend. Read more...
GBP/USD eases from three-day tops, up little around 1.3725 area
The GBP/USD pair maintained its bid tone through the first half of the European session, albeit has trimmed a part of its intraday gains and was last seen trading around the 1.3730-25 region.
The pair built on the previous day's strong rally of over 130 pips from sub-1.3600 levels and gained some follow-through traction for the second consecutive session on Thursday. The momentum was supported by a subdued US dollar price action and pushed the GBP/USD pair to the 1.3755-60 region in the last hour, though a combination of factors capped the upside. Read more...
|Today last price||1.3762|
|Today Daily Change||0.0050|
|Today Daily Change %||0.36|
|Today daily open||1.3712|
|Previous Daily High||1.3723|
|Previous Daily Low||1.3591|
|Previous Weekly High||1.391|
|Previous Weekly Low||1.3761|
|Previous Monthly High||1.4249|
|Previous Monthly Low||1.3787|
|Daily Fibonacci 38.2%||1.3673|
|Daily Fibonacci 61.8%||1.3642|
|Daily Pivot Point S1||1.3628|
|Daily Pivot Point S2||1.3543|
|Daily Pivot Point S3||1.3496|
|Daily Pivot Point R1||1.376|
|Daily Pivot Point R2||1.3807|
|Daily Pivot Point R3||1.3892|
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