Author Topic: Daily GBP/USD Analysis from ForexMart  (Read 3342 times)

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
GBP/USD Technical Analysis: February 20, 2017
« Reply #45 on: February 21, 2017, 01:08:46 PM »

The technical pictures the GBPUSD to hover around the trading range of the previous week. The cable came across with a wave of selling pressure after the failure of the spot in reacquiring the psychological mark 1.2500.

The British currency weakened to 1.2500 amid Asian hours and touched 1.2400 level overnight. The level prevents its losses which rejected the price higher. The pair pushed the 50-EMA lower, tested the 200-EMA and rebounded the 100-day moving averages as shown in the 4-hour chart.

Furthermore, the 200-EMA seems bullish-neutral while the 50 and 100-EMA are neutralized. Resistance settled at 1.2500, support entered 1.2400 area.

The MACD sits in the center point. Should the histogram move near the positive zone to provide further strength for the buyers. While an entry towards the negative territory will imply sellers capacity to manage the market. RSI departed from the neutral zone and advance south.
The technicals manifested a moderate bearish signal. We projected the major will proceed towards 1.2400 and the price might decline to 1.2340 after reaching the initial target.


TheGeekKnows - Forex Forum

GBP/USD Technical Analysis: February 20, 2017
« Reply #45 on: February 21, 2017, 01:08:46 PM »

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
Re: Daily GBP/USD Analysis from ForexMart
« Reply #46 on: February 27, 2017, 06:38:02 PM »
GBP/USD Technical Analysis: February 27, 2017

The British currency preserved a bid tone close to its recent highs. The sterling gained strength following the favorable results for the BBA Mortgage Approvals along with the USD retracement.

The GBPUSD lacks momentum and failed to touch resistance region 1.2600. The bulls stalled near the 1.2565 level due to failure in driving the spot upwards. The pair is confined in a tight range around 50 pips amid the European trades. A bout of renewed selling interest developed amid EU morning trades.

The Cable weakened versus the greenbacks moving near 1.2500 area. The GBP/USD bounced back from the 200-EMA and surpassed the 50 and 100-EMA higher viewed in the 4-hour chart.  The GBP resumed its development over the moving averages. The 200 and 50-EMA directed higher while the 100-EMA preserved a bearish pattern indicated in the same chart. Resistance is set at 1.2600, support pierced the 1.2500 mark.

The MACD indicator increased which confirmed strength for the buyers. RSI weakened and descended.

Bullish sentiment would likely prevail. A trend on top of 1.2550 would restore the bullish tone through 1.2600 – 1.2650.

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
Re: Daily GBP/USD Analysis from ForexMart
« Reply #47 on: March 07, 2017, 06:16:20 PM »
GBP/USD Technical Analysis: March 6, 2017

The downbeat data of UK non-manufacturing PMI coupled with the growing expectation for the rate increase in US occurred on the back of British currency’s 6-week low recovery versus the greenbacks. Moreover, the sterling resumed its period of consolidation during the Asian trades took place on Friday. The price traded range-bound lower in a tight range of 50 pips. The sellers were able to push the GBP towards 1.2200 as it became active throughout the morning EU trades.

The 4-hour chart continued its development under the moving averages while the 50, 100 and 200-EMAs drove lower. Meanwhile, the 100 and 50-EMA made a downward crossover to the 200-EMA. Resistance is seen at 1.2300, support highlighted 1.2200.

The MACD histogram weakened which indicates seller’s strength. RSI came in the oversold territory, en route south.

Technicals are expected to support a downward extension to 1.2200 level. The final break would suggest further weakness at 1.2150 region. The possible minor correction still predicted to happen if the spot appeared to be oversold. In order to ease the downward pressure, buyers may push the price through the mark 1.2300.

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
Re: Daily GBP/USD Analysis from ForexMart
« Reply #48 on: March 10, 2017, 02:18:28 PM »
GBP/USD Technical Analysis: March 9, 2017

The House of Lords decided to allow the Parliament to exercise a veto with regards to the management of the Prime Minister towards the European Union. This resolution made some impact to the British currency. Moreover, Theresa May has to face another difficulty with the Brexit negations.

The sterling remained flat during the Asian hours. The sellers spend the whole night accumulating strength for another support and pushed the price lower in the morning.

The spot was removed from the region 1.2200 and progress lower prior to the opening of London session. The Cable was able to hold 1.2150 amid noon trades. As mentioned in 4-hour chart, the price resumed its development under the moving averages. The 50, 100 and 200-EMAs headed downwards. Resistance is seen at 1.220, support highlighted 1.2100.

The MACD indicator decline as the sellers gained strength. RSI belong in the undervalued zone and expected to favor for a new lower trend.

Based on the current flow, a scenario where a downward movement at 1.2100 is considered.

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
Re: Daily GBP/USD Analysis from ForexMart
« Reply #49 on: March 17, 2017, 04:33:08 PM »
GBP/USD Technical Analysis: March 17, 2017

The market mainly focused on the meeting of the Bank of England about its monetary policy decision. Investors anticipate that regulator will keep an unchanged rate and does not assume any other surprising events.

The market became bearish yesterday. Investors believe that the sterling should be lifted on top of 1.2300. The major stayed near the barrier and moved downwards during the first part of the day. The Cable preserved an ask tone throughout the day.

According to the 4-hour chart, the GBP/USD broke the 50-EMA and tested 100-EMA afterwards. At the same, the 100 and 200-EMAs drove lower while the 50-EMA came in neutral.
Resistance is found at 1.2300 level, support is at 1.2200.

The histogram made its entry to the positive territory. Upon maintaining this position the buyer’s strength will increase. The RSI consolidated alongside the overbought readings.
Moving downwards near the 1.2200 level would the be the next possible scenario.

Offline Andrea ForexMart

  • Senior Forex Koala
  • ****
  • Posts: 434
  • Koala Power: +0/-0
  • Baby Forex Koala
    • View Profile
Re: Daily GBP/USD Analysis from ForexMart
« Reply #50 on: March 21, 2017, 01:11:51 PM »
GBP/USD Technical Analysis: March 20, 2017

The upside bias continued to exist until Friday. Buyers stalled its activity during the night. Moreover, the night correction was considered as a profit-taking action of buyers who failure to hold its place.

Bulls became active in the morning trades pushing the major near 1.2400 region and slowed down further. In line with the presentation of the 4-hour chart, the price cross above the 100-EMA and confined under the 200-EMA. Meanwhile, the 200 and 100-EMAs remained to be in a bearish pattern, 50-EMA directed up as mentioned in the chart. Resistance highlighted 1.2400, support entered 1.2300.

MACD indicator strengthened confirming for a buy signal. The RSI consolidated around the positive area.

Should the GBP/USD pair accomplish to breakout from the 1.2400 mark, the next focus is 1.2500 resistance region. However, there is an outside chance for a move on top of 1.2400 due to an overbought condition. Due to this probable scenario, the Cable is expected to reverse at 1.2300.