GBP/USD Daily Forecast – 29 February

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Friday, Feb 26 2016

After it was initially pushed higher and even broke above 1.40 handle, Sterling found significant amount of resistance around 1.4050 handle, and pulled back sharply all the way to 1.3850 handle, thus forming a massive shooting star which is of course a negative sign. As for Monday any type of supportive candles around 1.38 level and 1.3780 area, would be short-term buying signal, while resistive candles near 1.3939 area, would offer short-term buying opportunity.

In long-term trends we have no interest in buying the pair at the moment, and we would be strong sellers now when we have seen break below 1.40 handle with initial target set at 1.37 handle, especially since we have closed the week near lows.

More in this category: « AUD/USD Daily Forecast – 29 February EUR/USD Daily Forecast – 29 February »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.