GBPUSD technical and fundamental analysis

The British pound recorded a significant decline against the US dollar on Tuesday. The session began at 1.2963 and ended at 1.2868. Graphics continued to grow below moving averages, while the RSI remained in the resale area. If the bearish trend keeps, the pair will head to the first support at 1.2700.

The British pound recorded a modest decline against the US dollar on Thursday. The session began at 1.2890 and ended 23 pips lower. Graphics continued to grow below moving averages, while the relative strength index remained neutral. If the direction goes down, the target will be the first support at 1.2700.

The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.2878, gaining 0.08%. I believe that support is now at around 1.2832, the low of Friday's trading, and the resistance is likely at 1.3024, Monday's high.

The pound/dollar currency pair registered a volatile session on Friday. The session started at 1.2867 and finished 8 pips higher. During the day the support at 1.2860 was broken, and it was enough for the bears to score at 1.2831. Peak for the day was reached at 1.2915.

The pound rose by 34 pips against the US dollar on Monday. The session was opened at 1.2864, and the last day's quote was 1.2898. During the day, the support at the 1.2860 level broke down, with the bears recording lows at 1.2849. Bulls peaked at 1.2915.

The dollar took 76 pounds of pound assets during trading on Tuesday. The session started at 1.2898, and the bulls prevailed over the bears only in the first four hours, reaching a peak of 1.2908. From that moment of the day, bear players dominated the market and led the course to the bottom at 1.2810 after the support was broken at 1.2860. At the end of the day, the currency pair was 1.2822.

Here is my entry for London new 8-24-17

The UK gilts plunged Tuesday after the country’s consumer price inflation index (CPI) for the month of August exceeded market hopes, adding to possibilities of an interest rate hike by the Bank of England (BoE) at its upcoming monetary policy meeting on September 14.
The yield on the benchmark 10-year gilts, jumped 3 basis points to 1.07 percent, the super-long 30-year bond yields climbed 2-1/2 basis points to 1.72 percent and the yield on the short-term 2-year traded nearly 1-1/2 basis points higher at 0.23 percent by 09:15 GMT.
The UK headline consumer price inflation (CPI) surpassed expectations and rose at an annual rate of 2.90 percent for August, the Office for National Statistics (ONS) reported on Tuesday. On monthly basis, the inflation jumped 0.6 percent as compared to a slight deceleration of 0.1 percent in July.
Further, the retail price index also bettered expectations and came in at 3.9 percent for the reported month, higher than previous months reading of 3.6 percent and 3.7 percent estimated. The higher than expected CPI figure suggest a UK interest rate rise was imminent, sooner rather than later, which helped send the British Pound higher across the board.
Meanwhile, the FTSE 100 traded 0.12 percent lower at 7,404.25 by 09:20 GMT, while at 09:00GMT, the FxWirePros Hourly Pound Strength Index remained highly bullish at 192.94 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).

Bullish

Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:

1. Australia: Employment rose by 54,200. Participation edged up to 65.3 percent. Unemployment rate unchanged at 5.6 percent.
2. China: Urban investments declined to 7.8 percent y/ growth in August. Retail sales growth declined to 10.1 percent y/y. Industrial production growth dipped to 6 percent y/y.

Upcoming:

1. Japan: Industrial production report will be released at 4:30 GMT for July.
2. France: Consumer price inflation report will be published at 6:45 GMT.
3. Switzerland: SNB will announce interest rate decision at 7:30 GMT.
4. Italy: Consumer price inflation report will be published at
5. United Kingdom: BoE will announce interest rate decision at 11:00 GMT.
6. United States: Weekly jobless claims report will be published at 12:30 GMT, along with consumer price inflation report. EIA will release its weekly natural gas inventory report at 14:30 GMT.
7. Canada: New House price index will be updated at 12:30 GMT.
8. Germany: Bundesbank President Weidmann is scheduled to speak at 15:30 GMT.
9. New Zealand: August business PMI report will be published at 22:30 GMT.

The British pound was up against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3590, gaining 1.44%. I believe that support is now at 1.3159, Monday's low, and resistance is likely at 1.3616, the high of Friday's trading.

Key levels to watch for:
Support: 1.3093; 1.3030;
Resistance: 1.3935.

The British pound was down against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3510, losing 0.53%. I believe that the support is now at the level of 1.3452, the minimum of Wednesday, and the resistance is likely to be at 1.3658 - the maximum of Wednesday.

The British pound recorded a neutral session against the US dollar on Tuesday. The currency pair opened at 1.3462 and after a volatile session the pound lost only 4 pips. If the price goes up, the pair will target the resistance at 1.3600. Otherwise, in the downside, maybe there will be a first support test at 1.3440.

Support: 1.3440; 1.3260; 1.3100;
Resistance: 1.3600;

The British pound also posted an increase against the US dollar on Thursday. The session started at 1.3384 and ended at 1.3439. Graphics continued to evolve between creeping averages, while the relative strength index remained neutral. In the short term, prospects remain neutral, and the 1.3260 and 1.3440 levels are indicative of the upcoming direction.

The British pound was down against the US dollar on Friday. By the close of US trading, GBP / USD was trading at 1.3397, losing 0.33%. I believe that the support is now located at the level of 1.3343, the low of Thursday, and resistance is likely at 1.3572 - Monday's high.

On the first day of the new week, the Pound/Dollar currency pair lost 107 pips. The day was opened at 1.3380, and not long after the bulls recorded a modest peak at 1.3402. For the rest of the day, the bears dominated and took the course only 6 pips to the support at 1.3250. By the end of the session one pound was exchanged for 1.3273 dollars.

Support: 1.3250; 1.3100;
Resistance: 1.3450; 1.3600; 1.3830;

The pound lost more than a figure against the US currency on Thursday. The last day's quote was 1.3118 or 128 pips from the opening rate of 1.3246. Extreme values for the day were recorded at 1.3249 and 1.3107 respectively. If the trend remains unchanged, it will soon be the first support breach, which is only 7 pips away.