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Friday, June 17th

EUR/USD has consolidated recovered position after yesterdays sharp fall. Now the pair is trading in narrow range near 1.1250 area with slight bearish mood. The pair recovered 130 pips on the back of weakened dollars positions as softer US Core CPI data coupled with yesterdays dovish Fed statement continue to weight US currency. Looking ahead, most likely, the pair will follow the market sentiment today as only Building Permits and ECB President M.Draghi Speech will end up this eventful week. At the moment the pair is trading at 1.1249 with todays support and resistance levels at 1.1052 and 1.1382.



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Monday, June 20th

GBP/USD jumped for more than 100 pips this morning. Today pound bulls are pushing the pair in the north direction as the latest “Brexit” polls results are showing that sentiments surrounded upcoming referendum are changing winds. Now “Remain” voted participants are taking lead sending the pair to nine-day high witnessed today at 1.4623 spot. Amid data dry calendar markets will continue to closely watch for developments surrounding “Brexit” which is scheduled on Thursday, June 23rd. At the moment the pair is easing its positions and trading at 1.4576 with todays support and resistance levels located at 1.4530 and 1.4690.


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Tuesday, June 21st

GBP/USD has broken through key resistance level of 1.47 this morning and now is testing three-week highs over this level. Today the pair is still staying under bullish pressure as the latest “Brexit” polls results are showing slight overweight in “Remain” voted camp. Meanwhile, the main event of this week is coming closer bringing nervousness amid traders causing markets to experience some volatility last days. Looking ahead, today traders will closely watch for developments surrounding upcoming referendum while UK will release CBI Industrial Trends Orders followed by Fed J.Yellen’s testimony. At the moment the pair is trading at 1.4701 level with todays support and resistance levels located at 1,4530 and 1,4889.


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Wednesday, June 22nd

GBP/USD remains nervous last days awaiting outcome of UK referendum despite the latest polls results showing favor in “Remain” camp. The British pound remains strong against its counterpart as the latest polls are showing slight overweigh in “Remain” camp, thus decreasing chances of “Brexit” scenario. Today all data will have limited influence on the pair as upcoming UK referendum is taking center stage. At the moment the pair is hovering at 1.4690 level with todays approximate support and resistance levels located at 1.4517 and 1.4851.

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Monday, June 27th

GBP/USD continues losing a grip at the beginning of this week, keeping its range near level of 1.34. The pair is extending its drop as traders are still digesting the political and economic impact of UK referendums results. Today all attention will be focused on meeting between A.Merkel, M.Renzi, F.Hollande and D.Tusk where EU leaders will discuss Article 50. At the moment the pair is trading at 1.3444 with todays support and resistance levels located at 1.3304 and 1.3556.


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Tuesday, June 28th

GBP/USD is in a bullish mood today. The pair has recovered some part of its losses and stepped over the level of 1.33 back from lows last seen 31 year ago as risk-on sentiments are gathering momentum this Tuesday. Today traders will closely watch for EU Leaders Summit due later today, where summit participants will discuss further steps of “Brexit” development. Yesterday, speaking in Parliament Prime Minister of the UK D.Cameron said that another referendum is not planned. Moreover, today the pair will gain additional impetus from US GDP and CB Consumer Confidence due later this day. At the moment the pair is trading at 1.3277 with todays support and resistance levels located at 1,2954 and 1,3390.


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Thursday, June 30th

GBP/USD

Current price: 1.3372 (-0.4%)
Session range: Open 1.3427; High 1.3469; Low 1.3362
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S 1.3170; R 1.3664
Main drivers: UK GDP, US Initial Jobless Claims, Speeches of BoE Governor M.Carney and FOMC Member J.Bullard
Note: GBP/USD is back below the level of 1.34 as the pair is performing minor pull back after tow-day post-Brexit rebound. Moreover, dollars broad based recovery also is weighing the pair. In addition, traders today will trace actions of potential Conservative Party candidates B.Johnson and T.May to find cues for furthermore momentum.

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Friday, July 1st

GBP/USD
Current price: 1.3289 (-0.2%)
Session range: Open 1.3310; High 1.3350; Low 1.3277
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1,3047 R. 1.3630
Main drivers: UK Manufacturing PMI, US ISM Manufacturing PMI
Note: The pair fell sharply yesterday after BoE governor M.Carney hints of potential rate cut this summer. Moreover, the pair remains pressured lately on the back of post-Brexit economic and political uncertainty.


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Tuesday, July 5th

EUR/USD

Current price: 1.1128 (-0.2%)
Session range: Opened 1.1154 High 1.1158 Low 1.1122
Latest trend: Bearish
Expected trend: Bullish
Daily volatility: High
Support and resistance levels: S. 1.1074; R. 1.1198
Main drivers: EU Local Service PMI, EU Services PMI, EU Retail Sales, US Factory Orders, Speech of the FOMC Member W.Dudley
Note: The pair remains pressured this morning as fading risk appetite is sending the pair in the south direction.

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Wednesday, July 6th


GBP/USD

Current price: 1.2942 (-0.6%)
Session range:
Open 1.3023; High 1.3029; Low 1.2795
Latest trend:
Bullish
Expected trend:
Bearish
Daily volatility:
High
Support and resistance levels: S. 1.2812 R. 1.3390
Main drivers: US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI, FOMC Meeting Minutes
Note: Once again, GBP/USD dipped to lows last seen more than 30 years ago. The pair broke through the level of 1.28 with the lowest point at 1.2795 on the back of dovish comments after BoEs Financial Stability Report where Governor M.Carney showed worries amid post-Brexit economic and political unstable environment. Moreover, the pair was pressured after streak of disappointing Construction and Services PMIs showed during this week.


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#169Forex.ee Analytics, Yesterday at 1:36 PM