GBP/USD In Downtrend As Long As Below 1.2250

Key Highlights The British Pound started an upside correction above 1.2100 against the US Dollar. A declining channel is forming with resistance near 1.2205 on the 4-hours chart of GBP/USD.The UK Services PMI in July 2019 increased from 50.2 to 51.4.The US IBD/TIPP Economic Optimism Index in August 2019 might decline from 56.6 to 54.6. GBPUSD Technical Analysis This p...
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GBP/USD Nosedives To New 2-Year Low Below 1.2200

Key Highlights The British Pound declined heavily and traded to a new 2-year low against the US Dollar. GBP/USD struggled to break a crucial bearish trend line with current resistance near 1.2440 on the 4-hours chart.UK’s Consumer Credit in June 2019 came in at £1.046B, up from the last revised £0.906B.The US Personal Income in June 2019 could increase 0.4% (MoM), less ...
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GBP/USD Facing Key Resistance Near 1.2550

Key Highlights The British Pound struggled to gain momentum above 1.2550 against the US Dollar. GBP/USD is struggling to trade above a key bearish trend line near 1.2515 on the 4-hours.The Chicago Fed National Activity Index (CFNAI) increased from -0.03 to -0.02 in June 2019.The US Housing Price Index in May 2019 could rise 0.3% (MoM), less than the last +0.4%. GBPUSD Te...
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GBP/USD Recovery Approaching Key Juncture

Key Highlights The British Pound recovered recently after trading as low as 1.2439 against the US Dollar. GBP/USD is now struggling below the 1.2580 resistance and a bearish trend line on the 4-hours.The NY Empire State Manufacturing Index increased from -8.6 to 4.3 in July 2019.The UK Claimant count in June 2019 could change by 18.9K, less than the last 23.2K. GBPUSD Te...
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GBP/USD Could Accelerate Losses Below 1.2450

Key Highlights The British Pound declined sharply after it broke the 1.2600 support against the US Dollar. GBP/USD formed a couple of bearish continuation patterns on the 4-hours chart.There could be sharp losses if the pair fails to stay above 1.2480 or 1.2450.The Swiss Unemployment Rate in June 2019 (MoM) is likely to remain at 2.4%. GBPUSD Technical Analysis After ...
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GBP/USD Showing Signs of Short Term Weakness

Key Highlights The British Pound failed to settle above 1.2760 and recently declined against the US Dollar. GBP/USD is likely following a declining pattern and it could test the 1.2600 support area.The UK Manufacturing PMI in May 2019 declined further from 49.4 to 48.0.The UK Construction PMI in May 2019 might increase from 48.6 to 49.3. GBPUSD Technical Analysis This...
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GBP/USD Eyeing Further Upsides In Near Term

Key Highlights The British Pound struggled again to surpass the 1.2760 resistance against the US Dollar. GBP/USD remains supported on dips near the 1.2680 and 1.2665 levels.The Chicago Fed National Activity Index in June 2019 increased from -0.48 to -0.05.The US Consumer Confidence in June 2019 might decrease from 134.1 to 131.2. GBPUSD Technical Analysis This past we...
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GBP/USD Could Extend Losses In Near Term

Key Highlights The British Pound declined further below the 1.2570 support against the US Dollar. GBP/USD could struggle to recover above 1.2570 and 1.2600 resistance levels.The NY Empire State Manufacturing Index declined sharply from 17.8 to -8.6 in June 2019.The Euro Zone CPI in May 2019 could increase 0.2% (MoM), less than the last +0.7%. GBPUSD Technical Analysis ...
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GBP/USD Could Start Strong Rebound In Near Term

Key Highlights The British Pound found support near 1.2560 and rebounded recently against the US Dollar. GBP/USD broke a major bearish trend line with resistance at 1.2675 on the 4-hours chart.The UK Industrial Production in April 2019 declined 2.7%, whereas the forecast was +0.1%.The UK Claimant Count in May 2019 could change 22.9K, less than the last 24.7K. GBPUSD Tech...
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GBP/USD In Major Downtrend Below 1.2750

Key Highlights The British Pound extended its decline below the 1.2600 support area against the US Dollar. GBP/USD remains in a strong downtrend unless it recovers above 1.2750.The UK Manufacturing PMI declined sharply from 53.1 to 49.4 in May 2019.The UK Construction PMI might remain stable at 50.5 in May 2019. GBPUSD Technical Analysis In the past few weeks, there w...
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