Category: GBP USD Forecast

GBPUSD Rejects Daily Resistance Level – Bearish Reversal Candle



gbpusd hitting resistance

GBPUSD has been stuck in this holding pattern under a stubborn resistance level on the daily chary, which has been containing price for the past couple of weeks.

Again, the market moved up into this resistance level and the higher prices were denied, and pushed back lower to create a bearish rejection candle in response to the Fed’s FOMC release.

I am not sure what the Fed’s position was, but we can see the GBPUSD responded bearishly with the increase in USD strength. If the market breaks lower, we could see a breakout to the downside and a move into lower prices.

GBP/USD Forecast July 27-31

GBP/USD Forecast July 27-31

GBP/USD posted sharp losses last week, as the pair lost 130 points. The pair closed the week at 1.5473. This week’s highlight is Preliminary GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. A weak Retail Sales report out of the UK hurt the pound, as [&hellip

GBP/USD Forecast July 20-24

GBP/USD Forecast July 20-24

GBP/USD reversed directions last week, posting modest gains. The pair closed the week at 1.5581. This week’s highlight is Retail Sales. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. In the US, retail sales was dismal and consumer sentiment fell short of expectations. Over in the UK, inflation numbers [&hellip

GBP/USD Forecast July 13-17

GBP/USD Forecast July 13-17

GBP/USD lost ground for a third straight week, losing about 100 points. The pair closed the week at 1.5443. There are 10 events this week, led by CPI and Claimant Count Change. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. The Fed minutes showed caution towards a rate [&hellip

GBP/USD Forecast July 6-10

GBP/USD Forecast July 6-10

GBP/USD sustained sharp losses for a second straight week, losing about 140 points. There are 12 events this week. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. US job Nonfarm Payrolls showed a gain 223K jobs in June, a sharp dip from the month before but only [&hellip

GBP/USD Forecast June 29 – July 3

GBP/USD Forecast June 29 – July 3

GBP/USD sustained sharp losses last week, losing close to 200 points. There are 10 events this week, highlighted by the PMI reports. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. In the US, Final GDP posted a slight decline, but housing numbers were strong, and the week ended [&hellip

GBP/USD Forecast June 22-26

GBP/USD Forecast June 22-26

GBP/USD had another excellent week, gaining 300 points. The pair closed at 1.5865, its highest weekly close since October. There are 5 events this week. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. The US continued to post mixed readings as inflation slipped, while employment and manufacturing [&hellip

GBP/USD Forecast June 15-19

GBP/USD Forecast June 15-19

GBP/USD had a spectacular week, gaining close to 300 points. The pair closed at 1.5541. There are 12 events this week. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. In the US, employment and consumer sentiment numbers were upbeat, but the greenback was hammered by the pound [&hellip

GBP/USD Forecast June 8-12

GBP/USD Forecast June 8-12

GBP/USD showed some strength late in the week but was unable to consolidate and ended the week almost unchanged. The pair closed at 1.5252. This week’s highlight is the Manufacturing Production. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. There was some positive news out of [&hellip

GBP/USD Forecast June 1-5

GBP/USD Forecast June 1-5

GBP/USD continued its sharp slide last week, losing 200 points. The pair closed at 1.5273. This week’s highlights are the PMI reports. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. The dollar was broadly stronger last week, and had no trouble posting strong gains against the British pound. The [&hellip

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