The long-term dynamics of the GBP/USD remain favorable, with the pair trading above the long-term support levels of 1.3800 and 1.3670. The second indicator confirming the continuation of the uptrend will be a break of the crucial short-term resistance level 1.3913. And a move above the resistance levels of 1.3970 (Fibonacci level 38.2 percent of the correction to the drop of the GBP/USD pair in the wave that began in July 2014 near the level 1.7200) and 1.3998 will signal the continuation of the GBP/USD bullish trend. Continue reading…
On Wednesday, the GBP/USD pair fell to its lowest level since June. Around 1.3800, the decline gained support. During European hours, the pound outperformed, with cable reaching a day high of 1.3872 before reversing. The dollar’s strength was enough to send the GBP/USD pair lower. Continue reading…
During the American session, the GBP/USD failed to hold gains and fell to 1.3800 against a stronger US dollar. The dollar, on the other hand, rose due to end-of-month flows. Cable is under pressure, with prices hovering just over the 1.3800 level. The dollar remains strong, with the USD/JPY at 111.00 and the DXY up 0.40 percent to its highest level since April, despite falling US yields and mixed Wall Street outcomes. The dollar’s strength is aided by end-of-month flows. Continue reading…/n
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