Browsing all articles tagged with official bank rate
Jul
4

GBP/USD D1 Technical July 14

Yesterday cable manage to hold its support level 1.5100 and get a good bounce. Currently pair is trading at 1.5250 level. Now support is around 1.5197 level. Bollinger bands are providing sell signals for the pair.  Price action on 1.5197 should be carefully watch.

If GBP/USD manage to reached 1.5197 level and get a bounce then it will indicate bullish strength that will allow Cable to start moving towards northward and target 1.5260-300 level respectively.

On the other hand, If pair fails to hold its support level and H4 candle chart closure below support level then pair will rapidly start falling towards southward and target will be 1.5150-100 level respectively.

High impact Data’s can change the scenario. Data’s like Asset Purchase Facility, Official Bank Rate, MPC Rate Statement.

May
9

GBP/USD D1 Technical May 09

The outlook remain bullish for the Cable but below 1.5611 level pair can get pull back. So, price action on 1.5611 level should be handle carefully. If GBP/USD manage to break 1.5611 level and give a day closure above its resistance then it will indicate strong bullish strength for the cable and GBP/USD will then further move up towards north.

On the other hand. If pair didn’t manage to overcome its resistance and H4 candle close below 1.5611 level then it will indicate pair didn’t have enough bullish potential to move further upward. It will then provide a valid sell entry with stop loss located just above 1.5650 level and take profit around 1.5400 level.

High impact News can affect the movement of GBP/USD. News like Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Manufacturing Production m/m, Unemployment Claims.

Apr
4

GBP/USD D1 Technical April 04

Cable is currently testing its support at 1.5070 level. Price action on this level should be watch. If GBP/USD manage to break its support and H4 candle close below this level, then Cable will further dropped towards south and target 1.5000 level.

The scenario can be change, If GBP/USD manage to hold its support level and H4 candle close above 1.5070, then pair will start moving northward.

High impact News can affect the move of GBP/USD. News like Services PMI, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Unemployment Claims, Fed Chairman Bernanke Speaks.

Mar
7

GBP/USD D1 Technical March 07

Bollinger bands are much discarded due to oversold of pair. Today’s resistance is at 1.4950 level. As D1 is showing oversold for the cable, we are expecting here a strong retracement. If pair manage to hold its support level and give a day closing above 1.5100 level it will provide more strength to the GBP and pair will then further move upward.

The scenario will be change, If GBP/USD break 1.4950 level and H4 candle close below 1.4950 then pair will rapidly move towards south and target 1.4900 level.

High impact Data’s can affect the movement of pair. Data’s like Asset Purchase Facility, Official Bank Rate, MPC Rate Statement, Trade Balance, Unemployment Claims, Bank Stress Test Results.

 

Feb
7

GBP/USD D1 Technical February 07

Over all the trend for cable is bearish. Today’s support is around 1.5600 level and resistance is at 1.5780 level. If pair manage to hold it’s support level today and give a daily closure above 1.5780 level then we can see more bullish move in GBP/USD.

Lately high impact Data’s can change the scenario. Data’s like Manufacturing Production m/m, BOE Gov-Designate Carney Speaks, Asset Purchase Facility, Official Bank Rate, MPC Rate Statement and Unemployment Claims.

Jan
10

GBP/USD D1 Technical January 10

Cable is on its lower Bollinger, so there can be some retracement, but overall trend is bearish for GBP/USD. Pair will test its next support at 1.5960 today. If pair give a closure below today’s support. It will take GBP/USD downward and target 1.5912 key level.

High impact Data’s can change the scenario. Data’s like Asset Purchase Facility, Official Bank Rate, MPC Rate Statement and Unemployment Claims.

Dec
6

GBP/USD D1 Technical December 06

Rate is trapped in a range of 1.6065 to 1.6130 levels. Bollinger bands are not providing clear signals, but as long pair hold its resistance we will see some southward movements. Break through these levels will clear the scenario.

High Impact data’s can affect the pair. Data’s like Asset Purchase Facility, MPC Rate Statement, Official Bank Rate and Unemployment Claims.

Nov
8

GBP/USD D1 Technical November 8

Intraday outlook in GBP/USD remains mildly on the downside for the moment. Corrective fall from 1.6309 is possibly still in progress and could extend to 1.5912. Break will target 50% of Fibonacci retracement of 1.5268 to 1.6309 at 1.5789. Meanwhile, above 1.6042 will turn bias neutral first. Break of 1.6174 will argue that larger rally from 1.5268 is finally resuming. We also have to keep a close eye on the U.K Asset Purchase Facility, Official Bank Rate, MPC Rate Statement.

Oct
4

GBP/USD D1 Technical October 4

 

GBP/USD is not providing clear trend, data of Asset Purchase Facility, Official Bank Rate for GBP remains neutral. Today pair has resistance 1.6175-80 and support is around 1.6065-70. The price action on these levels are important to watched, for pair still have some high impact news to release like ECB Press Conference, Unemployment Claims, and FOMC Meeting minutes that can have its impact over the pair.

Jun
7

GBP/USD H4 Technical June 7

On 4 hr chart GBP/USD broke the resistance of 1.5430 heading toward 1.5511. Macd is at 55 ema providing buy signal. If the pair broke the strong resistance of 1.5511 the next target will be 1.5572. Stronger recovery cannot be ruled out. But upside is expected to be limited. Asset purchase facility and official bank rate will affect the rate of pair.