GBP/USD outlook: Bears eye a failed breakout on the cable
The GBP/USD has been consolidating around the major resistance level at 1.31300 since the beginning of August, without being able to break out above it decidedly. In fact, there have been at least eight separate attempts of the price action at advancing above the resistance, all which came to no avail.
GBP/USD pullback aiming at 1.30 support and 144 MA
The GBP/USD broke above the Wizz 9 level but is in retracement mode ever since. Will the Cable build a reversal? Or will the uptrend continue?
The GBP/USD is below the 21 ema. This indicates a short-term bearish outlook. But the long-term moving averages remain bullish. Also, price action remains well above those MAs. The long-term trend is therefore certainly bullish. But price could create a deeper pullback. The main target of the pullback is the 144 ema, which should act as a support zone for a bullish bounce. Read More…
GBP/USD Forecast: Bedeviled by Brexit and at risk of falling once the tide turns
GBP/USD has everything in its favor – except Brexit uncertainty. While the currency pair is rising amid dollar weakness, it is lagging behind peers such as the euro.
American and Chinese negotiations held a telephone call overnight and announced progress – with more to come. Contrary to the heightened rhetoric of recent weeks, when it comes to trade, the world’s largest economies are aligned. Markets like that, pushing stocks higher and the safe-haven dollar lower. Read More…