|Day's Range||1.384 - 1.394|
|52 Week Range||1.2113 - 1.3947|
The British pound has rallied again during the week, and it looks very healthy. Now that we have cleared the massive gap a couple of weeks ago, the market should continue to find plenty of buyers. However, markets don’t go in one direction forever, so volatility should be expected.
The pair continues to be buoyant over the last few weeks as the expectations of a soft Brexit has been fuelling the move higher
British pound traders went back and forth during the day on Wednesday, ultimately settling on a consolidation move for the day. I think that the market should eventually try to reach to higher levels, but we have some work to do.
Bitcoin continues to go down. As mentioned yesterday, the first target for the BTC was the support around the psychological barrier on the 11k. Bitcoin went there but it was not enough for the bears, they continued to sell, pushing the price even lower, below another psychological barrier – 10k.
The British pound traders sold during most of the session on Tuesday, reaching down towards the 1.3750 level. However, we have seen a lot of bullish pressure as of late, so this could be presenting an opportunity for those willing to take advantage of it.
The British pound rallied during the trading session on Monday, reaching towards the 1.38 level above. We did pull back a little bit though, so I think that we could eventually find some type of value underneath. I think that the 1.3650 level being broken above was a massive sign that the British pound was ready to continue going higher, and I believe that pullbacks offer is the type of value the people are looking for.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending January 9 on Friday.
The British pound had a volatile week, initially falling, but turned around to find enough strength to break out to a fresh, new high. The US dollar is most certainly on its back foot, and the British pound is benefiting from this move, just as many other currencies around the world are.
The British pound exploded to the upside during the trading session on Friday, as we ate finally sliced through the 1.3650 level, an area which is the gap from the vote to leave the European Union. Because of this, it’s likely that the market has entered a new phase.
The British pound has gone back and forth during the trading session on Wednesday, essentially testing the 1.35 level underneath. That’s an area that is an obvious large round number, but it is also an area that has been structurally supportive.
The British pound drifted a bit lower during the trading session on Tuesday, as we continue to test the 1.35 level for support. This is an area that has been important more than once, so having said that, it’s likely that the buyers will return.
The Pound was able to make slight gains against the U.S Dollar on Monday, but a political storm may be brewing for Prime Minister Theresa May again.
The British pound fell a bit during the trading session on Monday, but continues to find support near the 1.35 handle below. That’s an area that has been important in the past, and should continue to be important in the future.
The pair was caught in a tight range between the 1.35 and 1.36 regions as the market saw the influx of liquidity after the holidays
The British pound rallied a bit during the week, but continues to struggle at the 1.3650 region, and the thought of breaking it. If we were to get above there, things could get very interesting but at this point I think we are still trying to build up the necessary momentum.
The British pound softened a bit during the trading session on Wednesday, but still is clearly well supported below, and it appears that there are buyers waiting to get involved.
The British pound rallied significantly during the trading session on Tuesday, as the British pound has seen a significant amount of buying pressure. We have broken above the 1.35 handle recently, and we have pulled back a little bit from the highs, but I believe that the 1.3650 level above is probably a massive barrier.