The British pound skyrocketed after Teresa may suggested that the UK would be working very closely with the EU after the exit. I’m not sure why traders thought any different, but it’s obvious that the buyers have...
GBPUSD made a strong bounce after PM May’s Brexit speech in the latest London trading session, allowing price to recover off the 1.2000 lows and create a reversal formation. A double bottom can be seen on the...
GBPUSD broke above the top of the price channel on 4-hour chart, indicating that the downward movement from 1.2774 (Dec 6, 2016 high) had completed at 1.1986 already. Further rally could be expected over the next several...
The British pound gap lower at the open on Monday, testing the 1.20 level underneath. This is an area that should be massively supportive, but I believe we are trying to get down below there, perhaps reaching...
GBPUSD’s downward movement from 1.2774 (Dec 6, 2016 high) extended to as low as 1.1990. Further decline could be expected after a minor consolidation, and next target would be at 1.1900 area. Resistance is located at the...
GBPUSD is facing 1.1946 support, a breakdown below this level will signal resumption of the downtrend from 1.5016, then next target would be at 1.1500 area. Near term resistance is at 1.2450, only break above this level...
The GBP/USD pair went back and forth, forming a relatively neutral candle. There is a significant amount of support below though, as the 1.20 level underneath offers a major barrier. A break above the top of the...
The GBP/USD pair tried to rally at the open on Thursday, but turned around to form a reasonably exhaustive candle. By doing so, the market looks as if it is going to continue to show quite a...
GBPUSD remains in downtrend from 1.2774 (Dec 6, 2016 high), the rise from 1.2037 is likely consolidation of the downtrend. Near term resistance is at the top of the price channel on 4-hour chart. As long as...
The GBP/USD pair fell on Wednesday, testing the 1.20 level. We found enough support there to turn the market back around but I believe that the downward momentum continues. If we can break below the 1.20 level,...
