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GBP-USD starting to recover?

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  • #16
    As I thought it would, the pair did reach 1.3100 and even briefly broke out below that level before rebounding from it. Next week we'll probably see a rally back to 1.3250.

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    • #17
      GBP/USD reached 1.3266, surpassing 1.3250. The pair remains bullish and it will likely continue climbing toward the next high at 1.3335.

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      • #18

        GBP/USD is testing the support at 1.3070 and a breakout below that level should lead to a further drop to the last low at 1.3020. Let's see, however, whether it will be able to break out below that support too.

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        • #19
          The pair bounced off from 1.3070 yet again and the sideways consolidation continues. It looks likely it will probably climb back to 1.3280.

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          • #20
            It did climb to 1.3280 and even rallied above that to 1.3320, although it still hasn't tested the last high at 1.3337. A breakout above that level could lead to a rally to 1.3400 again.

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            • #21
              The sideways consolidation continues, apparently. We'll probably have to wait for the NFP tomorrow to end it.

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              • #22

                GBP/USD dropped sharply after the NFP data announcement, but so far there is no breakout below 1.3030 and there may not be one before the market closes today for the weekend.
                Last edited by mlawson71; 11-03-2017, 04:28 PM.

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                • #23
                  There is a double bottom at 1.3030 as well as an inverted hammer bar on the D1 time frame. The pair will possibly start rallying again, as both of these formations are a signal for a move to the upside.

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                  • #24
                    As I thought, GBP/USD started moving north, although for the sideways consolidation to end it needs to break out above the resistance at 1.3340 and that is yet to happen.

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                    • #25
                      The situation with GBP/USD is similar to the EUR/USD one - the pair is stuck in a sideways range but there are fundamentals later this week - namely by Fed Chair Janet Yellen and BOE Gov Carney that could provoke some major volatility.

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                      • #26
                        GBP/USD is testing the high at 1.3320 - 1.3330, a breakout above that high could lead to a rally to 1.3500. So far, however, there is no indication that there will be an actual breakout.

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                        • #27
                          it's good when a GBP / USD pair can be traded, I'm always interested in how things are in this currency !!

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                          • #28
                            Originally posted by Mastery View Post
                            it's good when a GBP / USD pair can be traded, I'm always interested in how things are in this currency !!
                            How do you think it will develop in the next few days? There was finally a breakout above 1.3330, so I think it should keep moving to the upside.

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                            • #29
                              GBP/USD is moving to the upside indeed, I think it will soon break out above 1.3500. I think the question now is how much higher it will climb.

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                              • #30
                                The pair is testing 1.3548, I think that if it climbs above that level it will rally to 1.3600 next week.

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