GBP/USD to move back in the 1.26 range?

GBP/USD Forecast: Sellers remain hesitant as pound holds above key support

GBP/USD has started to consolidate its recovery gains around mid-1.2500s on Friday with investors moving to the sides ahead of key data releases from the US. Significant support area seems to have formed at the 1.2540/1.2550 area and buyers could remain interested as long as it holds.

The disappointing private-sector employment data from the US triggered a dollar selloff on Thursday. The US Dollar Index, which rose 0.7% on Wednesday, erased all of its gains and returned below 102.00. Read more…

GBP/USD to move back in the 1.26 range?

Looking at GBPUSD Chart, we can see the sideways price action from the 25th of May until yesterday’s session, trading in the channel between support of 1.2563 and overhead resistance of 1.2658. Early on the 2nd of June session, we can see the leg down, breaking support and falling in the 1.2475 range and forming a new support level near the 1.2456 level. However, near the end of the same day, we can see the bounce to the 1.2525 level, and earlier today it moved higher to 1.2574 where it was last found trading. Read more…

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GBP/USD outlook: Cable remains constructive but the downside still vulnerable, US jobs data in focus

Cable is moving within a narrow range in early Friday and remains constructive after Thursday’s 0.75% advance.

Technical picture is mixed, as moving averages of 10/20/30 days are conflicting, bullish momentum is weaker and RSI neutral.

Falling daily Ichimoku clouds weighs, along with a double-top pattern forming on a weekly chart and warning of recovery stall. Read more…

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