GBP/USD Technical Overview

Can the pound recover against the USD, considering the new positive data from the UK?

Technical Analysis
20 جولائی، 2017
GBP/USD Technical Overview

Today we would focus on the GBP/USD currency pair. The pair’s current movements seem a bit difficult to predict due to the stressed political environment in both the United Kingdom, where issues regarding the government and its ability to negotiate a good Brexit deal remain current, and in the United States, where the Republican health care reform failed and President Trump is quickly losing public support.

The GBP/USD pair's trend right now appears to be consolidating. We expect to see some bullish movement in the prices. Alternatively, if the pair sheds more than 200 pips in losses, then that’s our signal that the bears are in charge of the market. However, we remain optimistic about a more bullish trend behaviour, especially if we see the GBP/USD surpass the level of 1.3100.

The pound is riding on the support of the most recent Retail Sales report from the UK which demonstrated an increase of 0.6%, against the forecasted 0.4%. Investors expect that this would positively influence the Bank of England to begin considering a more hawkish approach to monetary policy, though it is unlikely we would see that in practice in the next few months, since inflation is still not at a healthy level.

It is crucial to pay attention to the levels of resistance located at 1.3105 and 1.3175. Below the pair we also have important support levels at 1.2948 and 1.2861. In fact, as of the moment of this article’s publication the pair is located right at the support level at 1.2973. It’s still above the pivot point of 1.2945, but the GBP/USD is volatile right now, so it’s important to stay alert. Most technical indicators agree on a strong sell.

SuperForex
USD/MXN: Fundamental Review & Forecast

Technical Analysis

USD/MXN: Fundamental Review & Forecast

The MXN has achieved its April 2016 level, while the USD is losing positions due to the failure of the health care reform.

SuperForex
19 جولائی، 2017
GBP/NZD Technical Outlook & H4 Chart

Technical Analysis

GBP/NZD Technical Outlook & H4 Chart

The GBP/NZD is still trading inside a channel and waiting for a downward breakthrough.

SuperForex
18 جولائی، 2017
EUR/USD Technical Overview & Daily Chart

Technical Analysis

EUR/USD Technical Overview & Daily Chart

The European currency is going strong versus the dollar, but will today's announcements alter its course?

SuperForex
18 جولائی، 2017