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...
Read More

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...
Read More

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 ...
Read More

GBP/USD Turns South, Could Test 1.2800 Support

Key Highlights The British Pound faced a strong resistance near 1.3050 and declined against the US Dollar. There was a break below a major ascending channel with support at 1.2930 on the 4-hour chart of GBP/USD. The UK Manufacturing PMI in August 2018 declined from the last revised reading of 53.8 to 52.8. Today, the UK Construction PMI for August 2018 will be rel...
Read More

GBP/USD Upsides Remained Capped by 1.3200

Key Highlights The British Pound recovery faced a strong selling interest near 1.3200-10 against the US Dollar. There is a key bearish trend line formed with resistance at 1.3180 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in June 2018 increased from the last reading of 54.3 to 54.4. Today in the US, the Factory Orders report for May 2018 will be rel...
Read More

GBP/USD Breakdown Looks Like Real Deal

Key Highlights The British Pound declined heavily and broke the 1.3950 support area against the US Dollar. There is a short-term connecting bearish trend line forming with resistance at 1.3860 on the 4-hours chart of GBP/USD. The US Pending Home Sales in March 2018 increased 0.4%, less than the forecast of +0.9%. Today, the UK Manufacturing PMI for April 2018 will...
Read More

EUR/GBP Could Resume its Downtrend?

Key Highlights The Euro faced a lot of selling interest near 0.8780-90 against the British Pound and declined. There are two crucial bearish trend lines forming with resistance near 0.8770 on the 4-hours chart of EUR/GBP. The UK Manufacturing PMI in March 2018 increased from the last revised reading of 55.0 to 55.1. Today, the Euro Zone CPI report for March 2018 (...
Read More

Can GBP/JPY Hold This Crucial Support?

Key Highlights The British Pound corrected lower from 150.58 but it found support near 148.80 against the Japanese Yen. There is a significant ascending channel forming with support near 148.80 on the 4-hours chart of GBP/JPY. The pair remains in an uptrend as long as it is above the 148.80 support. Today, the UK Manufacturing PMI for March 2018 will be released, ...
Read More

GBP/USD – British Pound Primed for Lift-off; Eyes BOE’s Decision

Key Highlights The British Pound started a nice uptrend from well below 1.3100 against the US Dollar. The GBP/USD pair surged higher recently and broke two important bearish trend lines at 1.3250 on the 4-hours chart. UK’s Manufacturing PMI in Oct 2017 rose from the last reading of 55.9 to 56.3. Today, the BOE’s interest rate decision is scheduled and the cent...
Read More

GBPUSD – Is Rebound a Correction or a Bullish Trend Change?

GBPUSD - Is Rebound a Correction or a Bullish Trend Change? Key Highlights The British Pound mostly traded in a range with resistance near 1.2530 against the US Dollar. There is a major bearish trend line and a crucial bullish trend line formed on the hourly chart of GBPUSD, acting as a resistance and support respectively. Today in China, the Manufacturing Purchasin...
Read More