The GBP/USD, good technical round number levels

[idimitrov]

The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD is trading at 1.2826, gaining 0.11%. I believe that support is now at around 1.2513, Tuesday's low, and resistance is likely at 1.2909, Tuesday's high.

 

[idimitrov]

As expected, the lightweight bearish correction from Wednesday was only temporary. On Thursday, we saw renewed demand below the 1.2800 level, and although the bullish outcome was not particularly long, rejecting the lower values was almost restored. This holds the "cable" over the 200 MA.
Countering these positive facts, the price movement in the currency pair met support from investors during the Asian session of Friday. Conflicting signals indicate that timely analysis should be done with caution, although at this point I expect the corrective movement to deepen, forming lower bottoms.

 

[idimitrov]

GBP / USD - sale at 1.2810
BASIC PARAMETERS
• Entry: 1.2810 (per market)
• Stop: 1.2861
• Limit: 1.2736

 

[csc2009]

It seems consolidation continues, the pair stay within the range between 1.2750 to 1.2860. In order to further gains, Pound needs to break above 1.29 level.

 

[csc2009]

Cable is holding around 1.2800 level, the pair is consolidating in a narrow range between 1.2755 to 1.2860 while still remain in the positive territory. Any break out would confirm clear direction.

 

[csc2009]

Gbp/Usd is slowly building up some gains but still within the range, upside seems limited, 1.0900 act as psychological resistance level.

 

[Willyw]

British Pound / US Dollar-GBPUSD As of 25/04/17
*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar
Buy Target: 1.2863
Buy Stop: 1.2749
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 7 white candles versus 2 black candles with a net of 5 white candles.
The previous 50 candlestick bars, there are 26 white candles versus 22 black candles with a net of 4 white candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 9 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 2.29%, and has been fluctuating from a high of 1.289 to a low of 1.250.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition. No Stochastic Buy or Sell signals generated today. The last signal was a Sell 19 Period(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 4 period(s) ago.

Currently the RSI does not show any Failure Swings. The RSI and price of British Pound / US Dollar are not diverging.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Because this is a trend following system, it should not use to initiate any trades right now. The last Directional Movement Indicators (DMI) signal was a BUY 102 period(s) ago.
There were no SAR signals generated today. The last SAR signal was a Buy 8 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed below the upper Bollinger Band by 9.1%. Bollinger Bands are 13.18% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

 

[csc2009]

Cable continues to be trading within a narrow range in positive territroy , there is no clear directional strength, the consolidation would probably continue until Friday preliminary Q1 GDP release.

 

[csc2009]

Finally, the pair confirmed a bullish break out of 1.2910/1.2900 zone after multi-week consolidation. On the upside, 1.2950 and follow by 1.30 psychological level might be in sight.

 

[idimitrov]

Pound/dollar made a moderate upward momentum yesterday, forming a peak at 1.2845. Expectations are bullish for testing 1.2900. A clear breakthrough and daily closure over this area can clear the road ahead of the bulls up to 1.3000 - 1.3050 and give further confirmation of the bullish scenario on the double bottom. Support for the day is 1.2800. A clear break below it could take the price to a neutral trading area, but only a clear break below 1.2750 would have to stop the upside-down scenario on the double bottom.