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.
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.
Page 1 of 5
