The GBP/USD is trading at around 1.2589 at the start of the new week, after falling 1.13% in the previous week. Studies of the charts suggest that the exchange rate is likely to continue falling over the next five days but we are wary of a bounce in Sterling on domestic politics and the midweek U.S. Federal Reserve meeting.
The Pound could well extend higher this coming ewek but we are wary of a brief and temporary setback from overbought levels.
Technical studies suggest the Pound-Dollar exchange rate could recover some lost ground over coming days, but the difficult political backdrop in the UK will likely ensure any recoveries are shallow in nature.
For GBP/USD, the technical picture is quite bearish: the pair is in an established and intact downtrend which is likely to extend but we are looking for a temporary pause in the move over coming days.
From a technical perspective, GBP/USD has established a short-term downtrend which is, on balance, more likely to extend than not given the assumption that the “trend is your friend” and therefore biased to continue.
The Pound-to-Dollar rate is set to begin trading around 1.3000 on Sunday after closing more than one percent lower last week, although studies of the charts suggest the outlook for the exchange rate has turned neutral of late.
The outlook for the Pound against the U.S. Dollar has turned more constructive according to our studies, while the calendar suggests U.S. price data will be important for the Greenback this week and Sterling will be subject to the outcome of cross-party Brexit negotiations.
The Pound-Dollar exchange rate is trading below 1.30 and our technical studies suggest further near-term weakness can be expected.
The Pound-Dollar exchange rate has fallen below the psychologically important 1.30 marker as near-term momentum turns negative suggesting a bias for further losses over coming days.
The Pound is forecast to track sideways against the U.S. Dollar over the near-term suggest our technical studies, but much of this week's action will depend on UK wage data out on Tuesday and a Dollar that appears to be experiencing a short-term soft-patch.
Pound-to-Dollar exchange rate in the week ahead: biased to the downside according to technicals, but critical week of Brexit developments could inject substantial volatility into market.
The Pound-to-Dollar rate is set to begin trading around 1.3043 on Sunday after falling more than one percent in the previous week, and the eat the start of the new week, down 1.3% from the week before.
The Pound-to-Dollar rate is set to beging trading around 1.3214 Sunday after falling just more than half a percent in previous week, although technical studies of the charts suggest the exchange rate is likely to rise over the coming days.
The Pound-to-Dollar rate is to begin trading around 1.3285 Sunday after rising more than 2.0% in the previous week, although the exchange rate still has further to climb over the coming days, according to technical studies of charts.
From a technical perspective, the GBP/USD pair has executed a complete U-turn after previously being in an uptrend and has fallen below some key markers, such as the 50-week moving averag at 1.3129. The coming week is expected to see volatility rise sharply as parliament votes on the EU-UK Brexit deal for a second time.
The Technical outlook for GBP/USD is constructive and we would expect Sterling to maintain its 2019 bias for strengthening. But, we are wary of a surprise vote on Brexit, while a broadly stronger U.S. Dollar could provide headwinds.
The Pound is poised to make further gains against the U.S. Dollar from a technical basis with favourable chart setups being observed. However, an important week for Brexit politics and a slew of data out of the U.S. economy could trigger unexpected shifts in the GBP/USD exchange rate.
Pound Sterling is in a short-term downtrend against the U.S. Dollar which leads us to suggest more of the same is possible near-term but we are conscious that weekend news on a potential softening on France's Brexit stance could benefit the currency early on.
The Pound fell back against the U.S. Dollar last week however the technical outlook remains positive and with the Brexit impasse likely to play neutral for Sterling in the coming week there is a good chance the exchange rate turns higher once more.
The GBP/USD exchange rate is forecast to enjoy further upside momentum in the short-term suggest our technical studies while the highlight in the coming week for Sterling will be the outcome of a series of votes in the UK parliament on Tuesday which should dertermine the path forward on Brexit. In the U.S. the Federal Reserve policy meeting mid-week and employment data at the week's end should command attention.
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