Printable View
GBP/USD. The bias is bearish in nearest term especially if price able to make a clear break below 1.5450 area
to trigger further bearish pressure aiming 1.5330 area. On the upside, immediate resistance is seen around
1.5525 area, another consistent break above that area would bring the price to neutral zone as direction would
become unclear in nearest term perhaps retesting 1.5570 area before turning lower.
The pair of sterling against the dollar neck fractures referred to him in the morning line at 1.5445 and closed last four hours without a candle, which supports our expectations for the continuation of the bearish trend effectively to this day, which begins its objectives at 1.5335 and extends to 1.5190 after breaking the previous level.
Sterling losses temporarily suspended two dimensions posted its biggest daily drop in three weeks against the US dollar.It settles near-term support at 1.5430, which is 14.6% Fibonacci extension, where the fracture without it on the basis of the daily closing reveals the way for the 23.6% level at 1.5194 .bdla of it, Ricochet above the summit May 21 at a level of 1.5699 paves the way for the summit 14 May at 1.5814.
GbpUsd Price needs to break through the 1.5375 level to confirm the continuation of the bullish trend within the ascending channel with reference to the current negative stochastic explain the reasons for the recent lateral oscillation.
The pound has not escaped the general trend of strong appreciation of the US dollar late last week; and as in previous pairs, there was no correction, despite an attempt to rise early in the day. Attention will be also here on US indicators that will confirm or not the downward trend that they are in favor of the US economy or not.
GBP/USD. The bias is bearish in nearest term especially if price able to make a clear break below 1.5340 area to trigger further bearish pressure aiming 1.5300 area. On the upside, immediate resistance is seen around 1.5470 area, another consistent break above that area would bring the price to neutral zone as direction would become unclear in nearest term perhaps retesting 1.5515 area before turning lower.
Approached the pair of sterling against the dollar from touching our first target is expected at 1.5335, which represents 38.2% of the rise, which shows the image, while still negative impact of the double top pattern that appears image-based and effective, which supports the continued downside bias in the coming period, The price needs to break the 1.5335 level to confirm the orientation towards the extended targets up towards 1.5190 and then 1.5040.
We continue tipping the downward trend in the coming sessions, supported by 50 moving average, what we have not seen a breakthrough for the levels of 1.5445 and 1.5520 and stability above.
Expected trading range for today between 1.5250 support and 1.5500 resistance range
After a day of break, low volatility and no trend, prices have started to fall for this cross bringing the pound to just under 1.54 US dollar. The movement is mostly dictated by economic extra event and market sentiments rather than by concrete figures. From a long-termist view this is not really surprising since the economic recovery that is beginning in the US and the proximity of the end of the plan.
GBP/USD. The bias is bearish in nearest term especially if price able to make a clear break below 1.5315 area to trigger further bearish pressure aiming 1.5270 area. On the upside, immediate resistance is seen around 1.5385 area, another consistent break above that area would bring the price to neutral zone as direction would become unclear in nearest term perhaps retesting 1.5470 area before turning lower.