"Pending orders in 100-pip range are strongly bearish with 68% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5585/67 and it is represented by this year's low and weekly S1. Meanwhile, an advance remains a possibility, while for that purpose the closest resistance is the weekly pivot point that is
The British Pound added 0.5% against the US Dollar yesterday, prolonging its weekly gain. Yesterday's movements were mostly dictated by the manufacturing data that were released in UK and US. The US manufacturing sector growth slowed in November to its lowest rate since January, while indicators of new orders and output also declined to their lowest levels since the beginning
The Sterling was able to post the first weekly gain in six weeks by appreciating 0.06% on the daily basis. Last week was relatively filled with important data; however, the impact was subdued as the Thanksgiving Day was celebrated in the US. One of the biggest worries for the UK has been the housing sector and on Friday nationwide house price
On Wednesday the Sterling climbed 0.54% versus its US counterpart, as multiple of high importance data were released in both - US and UK. However, in the rest of the week there will not be released that important data and Thursday is US bank holiday; therefore, the volatility could fall. US initial unemployment claims broke above the 300,000 threshold, rising to
Yesterday the Pound gained 0.34% against the US Dollar, although the informational background was quiet. The only important data released were the German Ifo Business Climate that is not directly impacting this currency pair. However, there are more important data to come on Tuesday - UK inflation report hearings and US prelim GDP. The US labor and retail markets continue