GBPUSD stays in the downward price channel on 4-hour chart, and remains in downtrend from 1.2774 (Dec 6, 2016 high). Near term resistance is at the top of the channel. As long as the channel resistance holds,...
The British pound initially fell on Tuesday, but found enough support to turn things around and form a hammer. This of course is a bullish sign but I think is a short-term strength at best. A simple...
GBPUSD’s downward movement from 1.2774 extended to as low as 1.2107. Further decline is still possible and next target would be at 1.2000 area. Resistance levels are at 1.2300 and 1.2432, only break above these levels could...
The GBP/USD pair fell again on Tuesday, breaking down to make a fresh, new low. Although we did bounce towards the end of the session, I think this clearly suggests that we are going to make a...
GBPUSD broke below 1.2199 support and continued its downward movement from 1.2774. Further decline could be expected, and next target would be at 1.2000 area. Resistance levels are at 1.2300 and 1.2432, only break above these levels...
GBPUSD remains in short term downtrend from 1.2774. Further decline to test 1.1946 support is still possible in a couple of weeks. Near term resistance is at 1.2500, only break above this level would trigger another rise...
The British pound rallied again against the US dollar, after initially falling. This is a very bullish looking candle that we have an uptrend line from the previous trend just above, and it coincides nicely with the...
GBPUSD broke above 1.2387 resistance, indicating that the downtrend from 1.2774 had completed at 1.2199 already. Further rise could be expected over the next several days and next target would be at 1.2700 area. Support levels are...
GBPUSD has been selling off recently but a reversal pattern has formed on its 1-hour time frame. Price failed in its last two attempts to break below the 1.2200 major psychological level, creating a double bottom with...
GBPUSD moved sideways in a trading range between 1.2199 and 1.2387. As long as 1.2387 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.2774, and further decline to...
