Forex GBP USD Forecast

Forex GBP USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the GBP USD!

Short-term trading idea Forex GBP/USD – bull speculation: rebound from the TR2 trend line

Tags: 

Trading opportunities on the currency pair: Since the 20th of September, the British pound has shed around 600 pips against the US dollar. The drop started with a pin bar model. From looking at the cycles, I’m expecting the rate to drop to the TR2 trend line or the range from 1.3000 to 1.3016, followed by a recovery to 1.3350 – 1.3490. We should keep the 21st of October and 29th of November in mind for possible reversal dates. From the trend line, I’ll start trying to trade with the trend with targets of 1.3350 and 1.1390. After the 28th of November, I’m expecting a downwards reversal and a breakout of the TR2 trend line.

Forecast and technical analysis EURUSD, GBPUSD, USDCHF on September 29, 2017.

Tags: 

The US economy grew at an annual rate of 3.1% in the second quarter of 2017, according to figures published yesterday at 15:30 (GMT+3). Although this is historical data and was already factored into the price of the US dollar, it does increase the likelihood of the US seeing 2.0% real GDP growth in 2017. We can take from this that the US dollar could further strengthen its position against the majors by the end of the year.

Forecast and technical analysis EURUSD, GBPUSD, USDCHF on September 28, 2017.

Tags: 

The Bank of Canada has indicated that it needs a more flexible, data-dependent monetary policy in the times to come, according to remarks yesterday from the bank’s head; Steven Poloz. Poloz stressed that they wouldn’t be thinking about interest rates mechanically, but rather that their outlook will depend on a number of statistical economic factors such as inflation, wage growth, business investment, consumer spending and debt, and so on. The Bank of Canada has hiked interest rates twice this year; once on the 12th of July when rates went up from 0.50% to 0.75%, and again on the 6th of September when they went up to 1.00%.

Forecast and technical analysis EURUSD, GBP/USD, USD/CHF on September 25, 2017.

Tags: 

Steady open on currency markets after the German election

The Bundestag elections in Germany are over, with Angela Markel’s ruling party having won the most votes. Trading on currency markets this morning opened relatively peacefully. Parliamentary elections were also held in New Zealand over the weekend. The ruling National Party received the most votes, although it wasn’t enough to win them a majority of seats in parliament and form a government. The NZDUSD pair has opened down this Monday, with a gap of around 1%.

Forecast and technical analysis EURUSD, GBP/USD, USD/JPY on September 20, 2017.

Tags: 

There weren’t any significant movements on the currency market on Tuesday, the 19th of September. The US dollar index closed slightly down, moving from 91.77 to 91.56, despite some positive data on the housing market. Building permits increased by 5.7% month on month in August. The euro index closed in positive territory, edging up from 95.09 to 95.35. The euro also continued its growth against the British pound, Japanese yen, and Swiss franc.

Forecast and technical analysis EURUSD, GBP/USD, USD/JPY on September 19, 2017.

Tags: 

Markets take a wait-and-see attitude with the Fed meeting looming

The trading session on Monday, the 18th of September, went by smoothly. The value of the US dollar index hardly changed, moving in a range of 91.78 to 92.22. The euro index (ECX) closed slightly up, jumping from 94.71 to 95.10. This growth on the ECX was brought about by growth on the euro against the British pound, Japanese yen, and Swiss franc. The market is clearly in wait-and-see mode as the Fed meeting approaches.

Forecast and technical analysis EURUSD, GBP/USD, USD/JPY on September 18, 2017.

Tags: 

FX market: markets await the Federal Reserve’s meeting

On Friday the 15th of September, the euro/dollar rate closed slightly up. The US dollar index continued its slide on the back of weak retail sales data for August coming out of the US. Month on month, retail sales fell by 0.2% in August, while the readings for June and July were revised downwards. In addition to this, industrial production in August fell by 0.9% as a result of the destruction of Hurricane Harvey.

Short-term trading idea FX GBP/USD - bear speculation: expected drop below the 1.2550 - 1.2710 support zone

Tags: 

Trading opportunities on the currency pair: The British pound's slide began on Thursday the 25th of May, after the release of downwards revised GDP data for the first quarter. Pressure on the currency increased after a breakout of the upper boundary of the A-A channel and the TR trend line. The GBP/USD rate returned to the 1.2550 - 1.2710 zone, which had been acting as a resistance until the 18th of April. My base scenario sees the rate falling to around 1.2643 in time for the FOMC meeting on the 13-14th of June.

Forecast and technical analysis GBPUSD on April 19, 2016.

Tags: 

GBP/USD attempts to climb over 1.43

Pair's Outlook
The Sterling surprisingly recovered on Monday, due to the European stock market rebound triggering demand for riskier assets. As a result, the Cable completely erased last week's gains, also breaking out of the falling wedge pattern earlier than anticipated. The bullish momentum is now likely to prevail, leading the exchange rate closer towards the resistance line at 1.45. The closest area to limit the gains is represented by the weekly R1 at 1.4339, but we should not rule out the possibility of the fundamentals pushing the GBP/USD pair back towards 1.42, as technical indicators retain their bearish signals in all timeframes.

Forecast and technical analysis GBPUSD on April 18, 2016.

Tags: 

GBP/USD remains subject to weakness

Pair's Outlook
Last Friday that British Pound managed to rebound against the US Dollar, completely erasing the preceding day's losses. Nevertheless, the Cable remains within the borders of a falling wedge pattern, thus, more bearish momentum is likely to come. A tough resistance cluster is weighing of the GBP/USD pair today, namely the 20-day SMA and the weekly PP around 1.4215. At the same time, the wedge's upper border is located close by, in case bulls succeed in pushing the Sterling higher today. However, technical indicators are in favour of the bearish scenario, but the nearest support rests only at 1.4081 in face of the weekly S1.

Forecast and technical analysis GBPUSD on April 15, 2016.

Tags: 

GBP/USD: risks skewed to the downside

The British currency weakened against almost every other major peer on Thursday, with the only exception being the New Zealand Dollar. The Pound lost the most against the Australian Dollar, as upbeat Australian employment data boosted its domestic currency yesterday, causing the GBP/AUD to slump 0.90%. At the same time, mild losses of 0.35%, 0.34%, 0.30% and 0.28% were registered against the Buck, the Swissie, the Yen and the Euro, respectively. The GBP/CAD edged lower only 0.14%, whereas the Sterling managed to add 0.71% versus the Kiwi, amid some negative news from the RBNZ.

Forecast and technical analysis GBPUSD on April 14, 2016.

Tags: 

GBP/USD prolongs bearish trend

Pair's Outlook
With the return of ‘Brexit' fears the Pound declined against the US Dollar yesterday, also bouncing back from the four-week down-trend. The Cable retains its weakness today, therefore, is likely to drop at least towards the nearest support, namely the weekly PP at 1.4151. However, bears might even push the GBP/USD currency pair even lower, with the 1.41 level getting pierced again. The second target will then be around the 1.40 mark, but the bearish momentum is unlikely to edge below the 1.4050 level, as it prevented the given pair from slumping since the beginning of March. Furthermore, technical studies are bolstering the possibility of the bearish outcome.

Forecast and technical analysis GBPUSD on April 13, 2016.

Tags: 

GBP/USD takes a crack at the down-trend

Pair's Outlook
The Cable edged higher on Tuesday, but with gains being limited due to mixed fundamental data results and the four-week down-trend playing its part. There is no room for another rally today, unless supply at the mentioned resistance line is insufficient to cause the GBP/USD currency pair to make a U-turn. In case bears take over the market, we should see a decline towards second support area, namely the weekly PP at 1.4151. On the other hand, a failure to push the pair lower will result in a retake of the 1.43 psychological level, despite it being bolstered by the weekly R1. The second resistance, however, lies out of reach around 1.4480.

Forecast and technical analysis GBPUSD on April 12, 2016.

Tags: 

GBP/USD risks falling back under 1.42

Pair's Outlook
The Sterling set off with a 125-pip rally against the Buck yesterday, unable to climb over the second tough resistance area. Technically, we should see the Cable bounce back under the 1.42 major level, with the weekly PP now acting as the nearest support at 1.4151. However, today's UK inflation data could provide sufficient impetus for the GBP/USD currency pair to at least partially pierce the immediate resistance, as the four-week down-trend at 1.4290 is expected to hold. Daily technical indicators are still unable to provide any clear sense of direction, whereas the longer timeframe ones still suggest the bearish momentum is to prevail.

Pages

Subscribe to RSS - Forex GBP USD Forecast