GBP/USD Holding Key Support, Likely To Rise Further

Key Highlights GBP/USD remained well supported above the 1.2880 area.A major bullish trend line is forming with support near 1.2875 on the 4-hours chart.The UK Manufacturing PMI increased from 48.3 to 48.9 in Nov 2019.The UK Construction PMI could rise from 44.2 to 44.5 in Nov 2019. GBP/USD Technical Analysis After forming a solid support near 1.2825, the British Poun...
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GBP/USD Facing Many Hurdles Near 1.3000

Key Highlights The British Pound failed to climb above 1.3000 and corrected lower against the US Dollar.A key bearish trend line is forming with resistance near 1.2960 on the 4-hours chart.The UK Construction PMI in Oct 2019 increased from 43.3 to 44.4.The US ISM Non-Manufacturing Index is likely to increase to 53.4 in Oct 2019. GBP/USD Technical Analysis After findin...
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GBP/USD Restarts Downtrend, 1.2000 Support At Risk

Key Highlights The British Pound declined below the key 1.2150 support area against the US Dollar. GBP/USD traded below a major bullish trend line with support at 1.2175 on the 4-hours chart.The UK Manufacturing PMI declined from 48.0 to 47.4 in August 2019.UK’s Construction PMI could increase from 45.3 to 45.9 in August 2019. GBP/USD Technical Analysis After a dec...
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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 Rebound Could Face Strong Resistance

Key Highlights The British Pound found support near 1.2980 and recently recovered against the US Dollar. A major bearish trend line is in place with resistance at 1.3190 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in March 2019 increased from 52.1 to 55.1. The UK Construction PMI for March 2019 is likely to rise from 49.5 to 49.8. GBPUSD Technical...
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GBP/USD Rally Unwinds But Not Likely Over

Key Highlights The British Pound surged above 1.3250 before sellers appeared near 1.3350 against the US Dollar. A major declining channel is in place with resistance near 1.3240 on the 4-hours chart of GBP/USD. The UK Construction PMI declined from 50.6 to 49.5 in Feb 2019. The UK Services PMI for Feb 2019 will be released today, which could decline from 50.1 to 4...
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GBP/USD Correcting Lower Towards Key Support

Key Highlights The British Pound started a major downside correction from the 1.3217 high against the US Dollar. There is a key declining channel formed with resistance at 1.3120 on the 4-hours chart of GBP/USD. The UK Construction PMI in Jan 2019 declined from 52.8 to 50.6. The UK Services PMI for Jan 2019 will be released today, which could decline from 51.2 to ...
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GBP/USD Remains In Major Downtrend Below 1.2900

Key Highlights The British Pound declined recently and broke the 1.2800 support against the US Dollar. There is a crucial bearish trend line in place with resistance near 1.2770 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in Nov 2018 increased from 51.1 to 53.1. Today, the UK’s Construction PMI for Nov 2018 will be released, which is forecasted to ...
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GBP/USD Testing Key Support Near 1.3000

Key Highlights The British Pound started a downside move from 1.3280 and declined towards 1.3000 against the US Dollar. There is a declining channel formed with resistance at 1.3100 on the 4-hours chart of GBP/USD. The US ISM Manufacturing Index for Sep 2018 declined from 61.3 to 59.8. Today, the US ISM NY index - Business Conditions Index for Sep 2018 will be rel...
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Can GBP/USD Move Past 1.3400?

Key Highlights The British Pound recovered recently and moved above the 1.3300 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.3310 on the 4-hours chart of GBP/USD. The UK Construction PMI in May 2018 remained at 52.5 versus the forecast of 52.0. Today in the US, the US Services PMI for May 2018 will be relea...
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