At this point, I have no interest in shorting this market anytime soon because I think the trend is changing for the long term, maybe not in favor of the British pound, but more of an anti-US dollar type of trading situation.   The British pound initially dipped a bit during the trading session on

The GBP/USD pair built on its recent bullish break through the very important 200-day SMA and shot to the highest level since March 10 on Wednesday. Looking at the technical picture, the recent positive momentum over the past three months or so has been along an upward sloping channel, pointing to a

The GBP/USD exchange rate has made another push higher in the mid-week session to quote at 1.2968, a new four-month high. Analyst and technical forecaster Richard Perry of Hantec Markets tells clients he continues to favour Sterling but the FOMC event later today could complicate matters. We hold a

British Pound Enjoys Strong Support   GBP/USD continues its upside move as markets await Fed Interest Rate Decision and commentary from Jerome Powell. The U.S. Dollar Index, which measures the strength of the U.S. dollar against a broad basket of currencies, has settled near support at 93.5. This is

"I’m afraid you are starting to see in some places the signs of a second wave of the pandemic" – the words of UK Prime Minister Boris Johnson when referring to "our European friends" angered many in the old continent, and especially in Spain. The UK's decision to advise against traveling to one of E

GBP/USD 4 Hour Price Update Updated July 30, 2020 12:50 AM GMT (08:50 PM EST) The back and forth price flow continues for GBP/USD, which started the current 4 hour candle off at 1.2981, down 4 pips 0.03% from the last 4 hour candle. Compared to its peers in the Forex, GBP/USD gave its buyers a retur

The POC zone 1.2845-60 should provide bounce for new buyers. If we see a retracement, the POC zone is where buyers are. However, as the trend is strong, we might see a bounce at 14.6 fib. The first target is 1.2961, followed by 1.2992 and 1.3045. If the market gets to DH4 and above, we should see so

Bullish signal for GBP/USD Retail traders are net short GBP/USD and the number of net short traders is growing. From a contrarian standpoint, that suggests further gains for the pair, which has already moved steadily higher this month. GBP/USD net short positions high and rising Positioning da

The British pound sterling continues with this bullish streak. Price action is now close to the 1.3000 handle which could potentially open the way to 1.3122 next. To the downside, support is found at 1.2813 which could stall the currency pair from further declines. But ahead of the Fed meeting, the

GBP/USD eases to 1.2985, down 0.10% on a day, while heading into the London open on Thursday. The Cable surged to the highest since March 10 the previous day after the US dollar marked broad losses on the bearish Fed. However, the greenback’s latest pullback joins Brexit woes to trigger the pair’s p

GBP/USD Cable extends steep bull-leg into ninth consecutive day and cracks barriers at 1.2970/76 (weekly cloud top /11 Mar high) the last obstacles on the way to psychological 1.30 resistance.Fresh weakness of the dollar in expectations of dovish Fed, push the pound further up and exposed targets at

The GBP/USD pair flirted with the 1.3000 level, retreating just modestly from it ahead of the US Federal Reserve announcement, only to surpass it afterwards. Market players had no reasons to buy the dollar as the coronavirus numbers continue to suggest the economic downturn in the country has not ye

GBP/USD We hold a broadly negative dollar outlook, but there are still likely to be some retracements within this weakness. On Cable there was a key break higher above $1.2810 on Monday, in a move which continued yesterday as the bulls still saw intraday weakness as a chance to buy. Cable bulls are

DAILY GBP/USD TECHNICAL OUTLOOK Trend Daily ChartSideways Daily IndicatorsRising 21 HR EMA1.2913 55 HR EMA1.2871   Trend Hourly Chart Up Hourly IndicatorsBearish divergences 13 HR RSI60 14 HR DMI+ve   Daily Analysis Resumption of recent upmove Resistance1.3000 - Psychological res1.2977 - Mar 11 high