Pound/Dollar attempted to push lower yesterday, formed a bottom at 1.2346, but turned up and closed higher at 1.2507. The bias is neutral, possibly with slight bullish signals for testing 1.2600. Intraday support is at 1.2450, whose breakthrough could lead to downward pressure on testing 1.2400 - 1.2350. Overall I remain neutral.
The GBP/USD, good technical round number levels
- Thread starter fxstrategist
- Start date
The pound continued upwards momentum and managed to add another 31 pips against the dollar. The day was volatile. The price by opening of session was 1.2507, as in the morning had bottomed at a rate of 1.2474. There were four strong bullish hours and a high at 1.2549. Ultimately session ended in the red for the dollar at a price of 1.2538 dollars per pound.
The British pound fell against the dollar on Friday. By the closing of US trading GBP/USD was trading at 1.24849, shedding 0.06%. I believe that the support is now located at the level of 1.2344, Tuesday's low, and resistance is likely at the level of 1.2585 - maximum of Thursday.
victoriajensen
Private, 1st Class
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GBP/USD is consolidating sideways for now but if the doji candlestick on the weekly time-frame above the support at 1.2350 is any indication it could start moving to the upside again.
The British pound fell against the dollar on Friday. By the closing of US trading GBP/USD was trading at 1.2410, shedding 0.64%. I believe that the support is now located at the level of 1.2379, Wednesday's low and resistance is likely at the level of 1.2550 - a maximum of Tuesday.
fxstrategist
Corporal
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The GBPUSD is still in a consolidation without a clear trend on the daily chart. It has formed what it appears to be a symmetrical triangle from where it may head in any direction. The 1.2600 level may act as resistance and the 1.2300 level may act as support.
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