Author Topic: Daily GBP/USD Analysis from ForexMart  (Read 10675 times)

Offline Andrea ForexMart

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GBP/USD Technical Analysis: October 28, 2016
« Reply #30 on: October 29, 2016, 11:20:21 AM »

   The sterling pound was able to acquire some measure of support following the release of a highly positive GDP report for the region. The GBP has now significantly increased in value. However, further profits for the sterling pound was restrained after the USD was able to recover its previous losses.

   The GBP/USD remained a few points away from its current support level of 1.2200 during Thursday’s session, with its most recent reversion stalling within the 1.2150 range which caused the pair’s price rate to drop. Meanwhile, the GBP stayed within the 1.2200 range and increased in value during the London session, but the GBP/USD pair slightly weakened during the New York session. The GBP reverted from the 50-EMA within the 1.2200 range and was able to break through the 200-EMA in its hourly chart. The 200 EMA is is exhibiting a downward trend, while the 50 and 100 EMA is currently at the neutral territory. Resistance levels for the GBP/USD is at 1.2300, while support levels for the pair are expected to be at 1.2200.

   The MACD technical indicator for the pair is currently at the middle, and an increase in buyer strength is expected once the histogram indicator moves to the positive side of the chart. However, once the MACD enters the negative side, then this will signal a market takeover by sellers. If the sterling continues to weaken, then the GBP/USD pair is expected to go below 1.2200, wherein sellers are expected to move the currency’s value further into 1.2100. On the other hand, the downward pressure on the sterling might be lessened if the pair goes beyond the 1.2300 range.

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GBP/USD Technical Analysis: October 28, 2016
« Reply #30 on: October 29, 2016, 11:20:21 AM »

Offline Andrea ForexMart

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GBP/USD Technical Analysis: November 02, 2016
« Reply #31 on: November 04, 2016, 07:06:31 PM »


   The GBP/USD pair increased up to 1.2280 points but immediately reverted back to 1.2200 points before closing the previous trading session at 1.2230 points. The momentum of the GBP slowed down after the release of the UK Markit manufacturing PMI data for October which plummeted to 54.3 points from its previous reading of 55.5 points. Market speculators are waiting for the results of the Bank of England’s Thursday meeting even though the BoE is not expected to make adjustments to its monetary policies as of the moment.


   However, BoE governor Mark Carney relieved the market on Monday after announcing that the governor will be serving another term in order to help the bank’s economic policies adjust to the effects of Brexit. The technical indicators for the pair have maintained their neutral bearings with the 20 SMA now at 1.2200 and other indicators seen at the positive territory but lacking decisive directional strength.


   Market players are advised to monitor the 1.2335 region on the upward territory and its support levels at 1.2170 points since the pair will have to break through any of these levels in order to gain significant directional momentum.

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GBP/USD Technical Analysis: December 12, 2016
« Reply #32 on: December 13, 2016, 07:11:33 PM »


The Goods Trade Balance and Total Trade Balance established an optimistic data on Friday along with the strengthening of the sterling pound. The British currency procured some ground during the earlier trading session on Friday. Buyers drove the prices towards a higher position and tested the 1.2600 level amid the European session. The upward impetus short-lived consequent to the test, following the GBP’s rollback below the level. As indicated in the 4-hour chart, the cable pair rebounded through the 50-EMA. Moving averages uphold its bullish bias.


Resistance lies in the 1.2600 are, the support sits at the 1.2500 region. The MACD histogram pierced through the negative range. When the MACD stayed in the negative zone, sellers will obtain more strength. The RSI is within the neutral territory.


The GBPUSD is expected to weaken upon the break below the 1.2600 level. Likewise, this could lead the prices towards 1.2500.

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GBP/USD Technical Analysis: December 19, 2016
« Reply #33 on: December 19, 2016, 04:46:46 PM »

The decision of the BoE to remain a constant rates did not surprise the market at all, seeing the rates to exist at 0.25%. The British currency was able to gain strength in spite of the reverse movement of its American counterpart subsequent to rally that took place on Friday.
Moreover, the sterling had a stronger stance as it bounced off its losses during the trades on Friday. The current rebound are considered as bear’s activity in selling its stock in order to gain despite of the sharp rise last week. Recovery seems weak and even there is a dollar retracement, the greens established a solid position generally.

The 4-hour chart showed that the price tested the 200-EMA, while the 50-EMA headed towards a lower level, both 100 and 200- day moving averages sustained a bullish pattern. Resistance is seen at the 1.2500 region, support is at the 1.2400 level. The MACD histogram increased which means a weak position for the sellers. RSI stayed in the oversold levels.

It is best to go short within the 1.2400 handle as its first target. In case that a price consolidation arise below the first target, it is expected that the GBP/USD will moved in the 1.2300 mark. However, a break on top of the 1.25 handle would weaken the U.S dollar. The pound have the tendency to expand its recovery through 1.2550.

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GBP/USD Fundamental Analysis: December 28, 2016
« Reply #34 on: December 28, 2016, 03:12:22 PM »

   The GBP/USD pair traded within a tight range of 50 pips during yesterday’s trading session, and is expected to continue this particular trend along with ranging and consolidation for today’s session unless interrupted by a currency flow just before the month ends. The UK market was characterized by a remarkably low level of liquidity yesterday due to a UK holiday. However, some market players are banking on an increase in volatility just before this month draws to a close, as well as currency flows which could possibly occur towards the end of the week. However, the recent market trends are not expected to become completely altered even if the month-end currency flows appear and induce market volatility. This is because the recent dollar weakness is expected to continue up until the end of this week, and since the USD is expected to bounce back immediately after the holiday season, the recent trends might still be sustained even after the holidays.

   For today’s trading session, there are no major economic news releases expected from UK, and this means that the GBP/USD would most likely engage in more ranging and consolidation up until the end of today’s series of sessions.

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GBP/USD Technical Analysis: January 4, 2017
« Reply #35 on: January 05, 2017, 01:45:53 PM »

The manufacturing PMI of the United Kingdom had supported the sterling temporarily amid trades on Tuesday. While the strength of greenbacks had curbed the major gains.
Moreover, the GBP presented a neutral-to-bearish position yesterday. The cable pair reversed its early lows during the Asian session but the pound lose its legs  to move ahead the 1.2300 level where major currencies work over new offers.

The pour lowered down in the 1.2245 region, although a renewed bout of buying interest stimulate the British currency to regain its previous losses hence it continued to bounced back towards the 1.23 barrier.

As presented in the 4-hour chart, the price pushed the 50-EMA upwards. Meanwhile, majors failed to escape around the area of 50-EMA thus, it  hovered within the region all throughout the trading day. Moving averages (50, 100 and 200). The resistance highlighted the 1.2300, support jump in through 1.2200 mark.

The MACD histogram is set in the centerline. In case the indicator came back to the negative zone, seller’s strength will grow. If it entered the positive territory, buyers have the power to dominate the market. The RSI kept intact in the neutral stance.

According to forecasts, the bearish sentiment will prevail. Most likely, the scenario will exhibit a further downward movement around the 1.2200 region.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #36 on: January 09, 2017, 04:07:50 PM »
NZD/USD Technical Analysis: January 9, 2016

The kiwi expand its recovery against its U.S peer during the middle session of Asia. Meanwhile, the NZD/USD is unable to move further the 0.7050 level and bounce back after it touched the aforesaid level.

During the EU session, the pair remained in a tight range that lies in the middle of 0.7000 and 0.7030. Another session of selling interest drove the New Zealand dollar downwards prior to the opening of the NY trades.

The price had a steep decline towards the 0.7000 range and extended its losses. According in the 4-hour chart, the price pushed the 50 and 100-EMAs higher and the 200-EMA was tested. It continued to struggle together with the neutral 200-EMA in the course of the EU hours. Moreover, the 50-EMA ascended, at the same time the 100-EMA moved southwards. Resistance touched the 0.7050, support is seen at 0.7000.

The indicators en route north around the bullish zone. The MACD histogram increased, favoring buyer’s strength. The RSI lies in overvalued territory.

The technical represents a bullish momentum. A The technical picture presents a bullish tone. A rapid price decline on top of the 0.7050 impedes the increase within the 0.7100 resistance level.

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GBP/USD Technical Analysis: January 9, 2017
« Reply #37 on: January 09, 2017, 05:48:56 PM »

There is no major economic news anticipated in the United Kingdom last Friday. While the data from U.S affected the market as traders awaits for the figures of trade balance and labor data.

After it reached the 1.2430 level in the Asian session, the GBP/USD weakened and shifted downside. The British currency returned to the support region 1.2400 where it met a stable support during the morning trades.

The cable pair extremely toggles in a narrow range amid EU session waiting for a renewed stimulus. Furthermore, a selling interest arises before the onset of the NY trades as it pushed the pair downwards.

As shown in  the 4-hour chart, the price drove the 50 and 100-EMAs higher. The pair remained in the middle of the neutralize 200-EMA and bearish 100-EMA in the earlier trading. Resistance entered the 1.2400, support touched the 1.2300 region.

The technicals had a moderate reversal from the overbought zone. The MACD indicator traded in the downside. The RSI stayed around the overvalued readings.

In case the GBPUSD breakout within the 1.2400 resistance level upon the establishing of buy orders, the price recovery may extend through the marks 1.2450 and 1.2500. However, a negative signal and further risk easing would emerge when a movement push through the 1.23 level. Furthermore, sellers were able to send the pair towards 1.2200.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #38 on: January 11, 2017, 01:23:41 PM »
GBP/USD Technical Analysis: January 10, 2017

As the week starts, the British currency was marked red. The GBP/USD softened due to rising concerns about Hard-Brexit. However, the price index of Halifax provided minor support for the pound because the House Prices published a higher than expected results. Meanwhile, sellers consistently manage the  overall market on Monday.

The sterling had a downward price break during the daily trades opening as it promptly spread its weakness until the 1.2200 level.

After the pair reached the level, the pressured area continued to fade while the pair advance towards the consolidation phase. However, the consolidation was short-lived making another bout of selling pressure which drove the Cable to the 1.2100 area.

A downward momentum further faded with some pips on top of the 1.2200 handle after it touched the 1.2123 mark, the price rebounded and lessened the amount of their losses.

The 1-hour chart showed that the sterling lead the moving averages towards a lower point, seeing the  50-EMA descended while 200 and 100-EMAs are trending flat. Resistance took the 1.2200 range, support entered the 1.2100.

The MACD indicator jumps into the negative zone. In case the histogram hovered in the negative territory, sellers will strengthen. The RSI stay close to the oversold condition, indicating another lower movement.

As shown in the 4-hour chart, the bearish bias will prevail. Sellers were able to come at 1.2100 level in the near-term, heading to 1.2000. There is still a possibility for the GBPUSD to make an attempt in reclaiming the resistance regions 1.2200 – 1.2230.

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GBP/USD Technical Analysis: January 11, 2017
« Reply #39 on: January 12, 2017, 05:30:45 PM »

The British pound had maintained its present stance on the back of the remarks made by PM Theresa May. The hard-Brexit continue to affect the investor’s sentiment while the attention of investors was focused on the data release of Industrial and Manufacturing Production.
Bears remains to dominate the market and their holds are becoming tighter.

Furthermore, the sterling continued to weaken on Tuesday followed by the short consolidation amid the Asian hours. The sellers moved the cable downwards and touched the 1.2100 level in the London session.

The 4-hour chart showed the price stayed below the moving averages and further cope with the consolidation period before the opening of the NY session. The MAs preserved its bearish trend. Resistance plunged into the 1.2200, support lies at 1.2100 region. The technicals shifted towards a lower point.

The MACD indicator had a dip which favors strength for the sellers. The RSI stick around the oversold levels.

The GBP seems oversold in the near-term which allows reversal of losses. The probable minor recovery around 1.2200 provides an opportunity for short positions. The pair may not change its movements in the near future even though the readings suggests an oversold condition.

The sellers have the chance to regain its seat in case the trend will reached 1.2100 and lead the cable through 1.2000.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #40 on: January 16, 2017, 07:01:54 PM »
GBP/USD Technical Analysis: January 16, 2017

   The USD regained its previous losses following the release of a highly positive Producer Price Index data, while the sterling pound dropped in value as a response to dollar strength and the recent uncertainties surrounding the Brexit process. The GBP/USD pair lost its momentum as it reached over 1.2100 during the early trading sessions last Friday. As the European trading session opened, the pound regained its losses and buyers induced the pricing of the currency pair to increase and reach 1.2200 points during the European session. However, the pair’s momentum faded almost immediately afterwards, with the GBP extending its losses up to 1.2118 points.

   The moving averages for the currency pair were all able to sustain its bearish stance, and resistance levels for the GBP/USD pair are expected to be at 1.2200 points. Meanwhile, support levels are expected to be at 1.2100 points. The GBP/USD pair could revert back its losses if it manages to regain its strength at the 1.2200 trading range. If the currency pair will be able to exceed this particular value, then this could cause the bulls for the currency pair to drive the value of the pair towards 1.2300. On the other hand, if the pair drops and moves toward 1.2100, then this means that seller strength will be returning and will cause the pair’s price to plummet further towards 1.2000 points.

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GBP/USD Technical Analysis: January 19, 2017
« Reply #41 on: January 19, 2017, 06:34:58 PM »

Hard Brexit issues continued to affect the cable pair. The British currency weakened in spite of the upbeat in the labor market data as the unemployment stat maintained its rate and Claimant Count Change rose.

The sterling is in the red versus its American rival on Wednesday. The GBP/USD climb the edge of the overbought area and pointed downwards amid Asian hours. Sellers take out the 1.2400 level during the morning trades and tested the mark 1.2300 in the EU session. However, the mark stalled the progress of sellers. Having touched the level, the price reduced and stayed on top of the region prior to the onset of NY trading.

According to the 4-hour chart, spot bounced off to 200-EMA. The entire moving averages moved downwards. Resistance highlighted 1.2400 region, support entered 1.2300 area.
The MACD slowed down which favored seller’s strength. RSI kept intact in the overbought zone.

Moreover, the 4-hour chart showed a prevailing bearish tone.The primary target 1.2200 showed some signs as it will be going short followed by  the consolidation phase, the pair is expected to move ahead through 1.2100 handle.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #42 on: January 26, 2017, 05:51:23 PM »
GBP/USD Technical Analysis: January 25, 2017

Traders have locked in few profits prior to the ruling of the UK Supreme Court regarding the EU exit. The court should make a decision if it is required for a Parliament approval in launching the Article 50.

The market structure presented a bullish sentiment on Tuesday. Buyers were unable to regain 1.2500 level and needed to give up the floor to the sellers. A renewed buying interest around the greenbacks had supported the US currency to recover from its recent lows.
Sellers were able to lead the price lower amid Asian session, however, failed to move beyond the lower mark 1.2460 before the onset of the EU hours.

The GBPUSD keep on sliding through the area of 1.2450 before the opening of the New York session. According to the 4-hour chart, the moving averages are trading mixed. The 200-EMA preserved its bearish signal while 100 and 50-EMAs moved higher as the 50- day MA crossed the 100-EMA upwards.

MACD grew less which confirmed growing strength for the sellers. RSI stayed in the overbought area.

A break on top of the 1.2500 mark is the least required point in order to establish a bullish resumption. The most probable scenario is that buyers could take the price through the 1.2540 region and took 1.2600. While a close below the level 1.2400 will lessen the prevailing upward pressure but before reaching this level, a buy signal will be implied.

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GBP/USD Technical Analysis: January 30, 2017
« Reply #43 on: January 31, 2017, 04:50:19 PM »

The sterling softened on the back of the demand growth for the greenbacks. The GBPUSD was able to recover few of its losses subsequent to the meeting between Trump and May.  The US data showed some pessimism which further hit the pair higher.

The British currency loses its value against its U.S peer during the night trades on Thursday. The spot was removed from 1.2600 level and placed in 1.2500 region amid Asian session. The pound extends its losses during EU hours, en route 1.2500. However, the level stalled the seller’s progress and kicked the spot higher. The price resumed its development on top of the moving averages as shown in the 4-hour chart while the 100 and 50-EMAs stirred upwards and the 200-EMA sits in the neutral position. Resistance touched 1.2600, support jump in the 1.2500 mark. The MACD histogram weakened which further slowed down buyer’s position. The RSI escaped from the overvalued territory and came in through the neutral zone.

The bullish outlook generally exists in the market while the pair got an opportunity to make recovery in case it surpassed 1.2600. A breakout within the 1.2600 handle would direct to 1.2700. Furthermore, the prevailing selling pressure could impact the spot and pushed below the mark 1.2500.

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GBP/USD Technical Analysis: February 13, 2017
« Reply #44 on: February 14, 2017, 03:59:05 PM »

The figures for the United Kingdom Industrial Production exceeded the expected results which further give a temporary support for the British currency. Nevertheless, the recovery of the greens is wide-ranging causing the GBPUSD to conduct a reversal.

The sterling preserved its neutral stance amid Asian session on Friday. The spot hovered on top of 1.2500 close to the handle.

Traders were able to surpass the region after the EU hours and continued to push the spot through 1.2450 area.

The 4-hour chart presented that the price drove 100 and 50-EMAs towards a lower point. The 50 and 200-EMAs seem neutral while the 100-day moving averages descended as seen in the aforesaid chart. Resistance touched 1.2500 mark, support lies at 1.2400.

MACD is placed in the centerline. An entry within the positive zone will provide added strength for the buyers while an attempt towards the negative territory will allow sellers to take over the market. The RSI stayed in the neutral region. Either a move lower than 1.2500 would help produce an opportunity to test 1.2400.