Author Topic: Daily GBP/USD Analysis from ForexMart  (Read 8939 times)

Offline Andrea ForexMart

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NZD/USD Technical Analysis: June 2, 2017
« Reply #60 on: June 02, 2017, 06:26:50 PM »

The Kiwi dollar declined in the day during Thursday trade while testing the mark 0.7050. Despite the choppiness of the market, the New Zealand currency have the possibility to beat the Australian dollar. It does not mean that the market will establish an optimistic stance, rather it will become more resilient. The market will search the level below 0.70 because this holds a nice large figure, however, the release of US employment figures on Friday involves plenty of noise.
The market will found the resistance on top of the 0.71 handle and the rally will soon fade away because the mentioned region seems resistive. As indicated on the higher level of the chart, some type of channel are trying to develop.

The NZDUSD is not easy to deal with because it is the least liquid among major pair and when the announcement is made, it would likely to have a violent move. With this, it is suggested to steer clear from the commodity-linked pair as this could lead you to pain if you did not take proper caution. The ability to break down under 0.70 region would break down significantly. It signals a longer-term indicator, either way, it could toggle continually moving a gradual ascending grind.

As the market maintain a choppy stance, lots of opportunities were also offered.

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NZD/USD Technical Analysis: June 2, 2017
« Reply #60 on: June 02, 2017, 06:26:50 PM »

Offline Andrea ForexMart

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GBP/USD Technical Analysis: June 5, 2017
« Reply #61 on: June 05, 2017, 05:31:59 PM »

The GBPUSD declined on Friday and face through some volatility as the U.S. employment figures released with a lower than anticipated results.

The market now appeared to hover below the 1.29 handle considered as a major level. The ability to break on top of the said region would lead the market towards 1.3050 area which provided a significant resistance.

Buying on the dips remain to be the most suitable way in playing the market beneath 1.2850 that has been offering an amount of support. Meanwhile, a break over 1.29 range would trigger a continuous higher movement. In the long term, buyers will still get involved and show further strength sooner or later.

Headline risk could still remain since concerns regarding British exit keep forging ahead. This might influence the sterling in any moment. Ultimately, the pair can find a bottom upon staying beyond the level 1.2750.

Moreover, the built-in bid resumes in regards to the GBP. An attempt to move ahead the 1.3450 handle should be done. However, lots of issues and concerns surrounds the British economy, therefore it may take some time to reach the target. Selling is ruled out except when we cut through down the 1.2750 area.

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GBP/USD Technical Analysis: June 7, 2017
« Reply #62 on: June 07, 2017, 05:50:13 PM »

The GBPUSD had attempted to rally yesterday, however, retreated to the level 1.2950 to return underneath the 1.29 handle. In the past few sessions, the market appeared to have a little bit of overall bullish pressure, waiting for the results of UK elections expected tomorrow. In this case, the market will probably experience choppiness and unprepared to conduct a significant move yet. Short-term volatility is predicted along with some choppy spots but a general ascending momentum should also be anticipated. It does not mean that a pull cannot be accomplished, it only implies that longer-term charts and the range below 1.2750 should offer massive support that will surely lure the attention of the majority of market participants.

After the session on Friday, the long-term outlook for the pair shall be available as it could be very difficult from this moment and the next.

Buying the dips remains to be the best option for the Cable but the dips showed to be somewhat steep. You should have got small positions as of now and after the election results in order to acquire lesser damage that might suddenly arise.

Markets have lots of speculation regarding the election decision, therefore a cool level head should be maintained as this is crucial for the following sessions.

In the longer-term, the pair might break the 1.3050 mark as it allows the market move higher freely, or maybe reach its long-term target found at the region 1.3450.

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GBP/USD Technical Analysis: August 2, 2017
« Reply #63 on: August 02, 2017, 06:09:22 PM »

There is high volatility during the Tuesday session as it reached the 1.3250 level but was reversed later on. It seems that the 1.32 level is being supportive as the trend proceed moving higher.

A break lower would push the market for a support towards 1.3150 level then to 1.31 level. The British pound is going to be sensitive to a lot of noise which is anticipated as amid the negotiations from the European Union and the United Kingdom. Hence, traders should be cautious of the of any abrupt changes in this pair.

The bullishness could persist for the long term. Although, this has been quite extended in the present time. A pullback opens more opportunity to make use of the current value. The market could target for a 1.3450 level above which the peak of the consolidation for the past few months.

However, if the market successfully gaps higher than the 1.3450 level, the next retest would be at 1.35 handle. A breakout would mean large bullish tone but it will not be long before the currency starts to rally once again. There will be high volatility from the start until this period ends.

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GBP/USD Technical Analysis: August 24, 2017
« Reply #64 on: August 24, 2017, 05:35:53 PM »

There was a choppy session in trading British pound against U.S. dollar on Wednesday. Traders were unsuccessful in their attempt to bring the price higher. There was a breakdown at the level of 1.28 which gives a bearish tone in trading. Although, the 1.2850 level and above could offer sufficient selling pressure to reverse the trend. It is advisable to sell in short-term rallies as the market continues to be cautious to possess the British pound ahead of the negotiations.

A resistance is found at the 1.29 level which could appeal to sellers between the levels of 1.2850 and 1.29. On the other hand, a break lower than the lows of the day could lead to a further decline with a short-term target of 1.2650 level.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #65 on: September 27, 2017, 04:20:11 PM »
GBP/USD Fundamental Analysis: September 27, 2017

The British pound has been competing with the surge of the dollar and a basket of currencies is already behind of the currency. The performance of the British currency has been better than other currencies as reflected in the past few weeks as it was supported by the Bank of England and the U.K. government which keeps it from collapsing. 

The central bank supports the currency which allows the probability of a rate hike for the year. It seems that the bank would not disturb the economy with the ongoing process of Brexit that flows at a faster pace than in their last meeting. Although, they noted that they would interfere when necessary. It has improved the confidence of the U.K. economy which also pushes the currency at a slower but steady in the past few weeks.

The U.K. government aptly proceeds with the Brexit process through their parliament which helped the situation and supported the pound to rise stronger over time. Although the U.K. Prime Minister May lengthened the timeline for Brexit in the new few years. In the meantime, her approach implies that the both the nation and the investors trust the economy.

Today, there is no major economic news from the U.K. anticipated but the durable goods data will be released from the U.S. The greenback is presumed to hold the current rates because of the expected announcement in the afternoon from Trump to implement a new tax system. Consequently, the GBP/USD pair will be put under pressure.