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Gbpusdsell

GBPUSDThe British pound had a horrible session during the day on Thursday, as the 1.26 level has offered massive resistance. The turnaround after the Federal Reserve meeting is short-lived, to say the least, as we have broken down quite drastically. Ultimately, this is a market that I think will continue to go lower based on the size of this candlestick, and of course, the fact that we are closing towards the very bottom of the range. If we break down below the bottom of the candlestick, then it means that we should see plenty of momentum in this market so that it goes much lower. Keep in mind that the US dollar continues to be the strongest currency that I follow in general, and I think that the British pound is not going to be able to put up much in the way of a fight against it. The Bank of England is looking to keep quite a bit of the asset on its balance sheet, unlike the Federal Reserve, which is looking to run those balance sheets down. This does favor the US dollar and the monetary tightening policy will continue to be the main driver. At this juncture, I think that a breakdown below the 1.25 level signifies that we are going to go down to the 1.23 handle, perhaps even down to the 1.22 level. With that being said, I would expect a short-term rally, but that rally will almost certainly be sold into. I have no interest in buying this pair obviously, but if we were to turn around a break above the highs of the last two days, it would be a very bullish sign, perhaps opening up the possibility of a move to the 50 Day EMA. The 50 Day EMA is an indicator that a lot of people pay attention to, especially as it is now crossing below the 1.30 level. At this juncture, the market looks very likely to continue being bearish, but you may have to go down to short-term charts for entry signals. Those signals continue to be an invitation to get US dollars “on the cheap”, which is exactly the environment we have been in for a while. Ultimately, I do not see how this changes anytime soon, especially as the Federal Reserve is going to do a couple of 50 basis point rate hikes in a row.
Short
by SmoothJB
GBPUSDThe GBP/USD had a difficult performance in April as the strength of the US dollar continued. The pair attempted to recover on Friday but it found a strong resistance at 1.2615. It has now pulled back and moved slightly below the 25-day and 50-day exponential moving averages (EMA). The Stochastic Oscillator moved from the overbought level. Therefore, the pair will likely keep falling as investors target last month’s low of 1.2410. It will then bounce back after the BOE decision.
Short
by SmoothJB
Mid term forecast of gbp/usdZEYAN here!!!! I'm looking at the market as a bear, and as far as I can tell, in the medium term, it's more bearish then bullish This is a general idea of how I view the market; I use algorithms to determine trend and different entry techniques; please do not take this information at face value; conduct your own research. If you want me to analyse your charts, please let me know in the comments. like for more!!!!!!!!! This is not financial advice; please conduct your own research and use this information as confirmation in addition to your own analysis.
by zeyankhan1318
1
GBPUSDGBP/USD seems to have gained traction before testing 1.3000 but the pair faces several resistance levels that could easily cap the rebound. The first hurdle is located at the 1.3040/1.3150 area (static level, 50-period SMA on the four-hour chart) ahead of 1.3080 (static level, 100-period SMA) and 1.3100 (psychological level). In the meantime, the Relative Strength Index (RSI) indicator stays near 40, suggesting that the latest recovery attempt was a technical correction and that buyers remain hesitant. On the downside, 1.3000 (psychological level, static level) aligns as key support. In case this level turns into resistance, the next bearish targets could be seen at 1.2970 (April 13 low) and 1.2920 (static level).
Short
by GeeTreex