fxstrategist
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The GBPUSD may be forming an inverted head and shoulders pattern on the daily chart, but if it continues dropping then it may reach the low around the 1.2800 level.
The GBP/USD, good technical round number levels
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fxstrategist
Corporal
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- 742
The GBPUSD is possilbe finishing the inverted head and shoulders pattern that we identified on the daily chart a few days ago. The pair may try to reach the 1.3532 level.
Likely, the Pound has rebound strongly today, the pair remain its negative tone, but short-term might continue to gain further from strong jobs report data.
fxstrategist
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The GBPUSD has found a good support at the 1.3100 level and good resistance at the 1.3200 level. The pair may continue consolidated around this zone.
Looking forward for the next week's GDP statistics and mortgage lending data in the UK. It's all old data on the "other" Britain, but if they would be worse than expected, the sterling would not escape from the Bank of England's easing policy in the beginning of August.
victoriajensen
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GBP/USD is stuck in a tight range between 1.3160 - 1.3080 and it's doubtful that range will end before the fundamentals tomorrow.
The British Pound was up against the US Dollar on Friday. At the closing of trading session EUR GBP / USD has traded at 1.3228, gaining 0.49%. I believe that the support is now located at the level of 1.3055, Tuesday's low, and resistance is likely at level of 1.3302 - a maximum of Friday's trading.
The pair pound/dollar started to grow at the weakening of the dollar, but not strong. A support for the pound had the statistics. The volume of consumer credit in June increased from 1.59 to 1.87 billion. Mortgage lending in the same month increased from 2.90 to 3.3 billion. However, these data are insufficient for the couple go out from the lateral movement. Maybe next week something will change.
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