Week Ahead Pound-to-Dollar Exchange Rate

If we were to strip out the Brexit imponderables and looked at the GBP/USD from a purely technical perspective, we can see potential for the exchange rate to go as high as 1.30.

Studies of the GBP/USD charts suggest weakness is possible, but we note a critical week for Brexit negotiations lies ahead and this could inject heightened two-way volatility into Sterling.

Studies of the GBP/USD charts suggest further weakness is possible subject to a break below a strong support zone which lies just below the current market level.

GBP/USD is in a new uptrend which is likely to extend to a trendline and MA target at 1.2700, much will dependen on whether further progress is made on the Brexit front and with this in mind Prime Minister Johnson's meeting with EU leaders in New York will be key.

The Pound-to-Dollar rate is set to begin trading around 1.2485 at the beginning of the new week after closing the previous one around 1.68% higher on Friday and studies of the charts suggest the pair has established a new uptrend that could take it higher in the days ahead. 

GBP/USD has shown strength in previous week, suggesting possibility of continuation higher.

Recent GBP/USD weakness throws the young uptrend into doubt, but we are wary of heightened politically-inspired volatility in all Sterling exchange rates over coming days.

The GBP/USD rate is trading at 1.2244 at the start of the new week after rising almost 1.16% in the week before and studies of the charts suggest that the short-term trend has turned positive.

Studies of the Pound-Dollar charts suggest that the short term trend may have reversed, increasing the risks of more upside.

Pound Sterling has declined by 5.64% against the Dollar thus far in 2019, and technical studies of the charts suggest the pair will continue falling in line with the dominant downtrend.

Concerning the outlook for GBP/USD, studies of the charts suggest the pair is at a crossroads with a 'hard' floor of support underpinning the British currency.

The Pound-to-Dollar rate is set to begin trading around 1.2498 when the market opens after falling back to its January lows in the previous week, where Sterling has found significant technical support even if the overall trend is still to the downside. 

The GBP/USD exchange rate is trading at around 1.2573 at the start of the new week after rising 0.4% from the previous week. Studies of the charts suggest the pair could be reversing and might go higher over the next five days.

The GBP/USD exchange rate is trading at around 1.2523 at the start of the new week, 1.35% lower than where it started the previous week. Studies of the charts suggest the pair is in a downtrend which is expected to continue over the next five days.

If Sterling-Dollar can break above the 1.2790 range highs then it would confirm a breakout and continuation higher to a target at 1.2850.

The Pound-to-Dollar rate will be trading at around 1.2738 at the start of the new week, after rising 1.2% in the previous week. Studies of the charts suggest that the exchange rate is likely to continue rising over the next five days.

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.