As yesterday's news were neither positive nor negative for the British Pound, the currency balanced between the gains and losses.
The British Pound was one of the poorest performers on Monday along with the Japanese Yen, Euro and Swiss Franc.
The Great Britain Pound was able to ouperform some of its peers on Friday, gaining 0.39% against the Swiss Franc, 0.35 against the Euro and 0.22% against the Japanese Yen.
As it turned out, the British Pound failed to capitalise on the positive news. The currency underperformed relative to all its major counterparts except for the US Dollar.
The Sterling underperformed most of its major counterparts yesterday, being hit not only by the negative domestic surprises, but also unexpected positive data.
GBP/USD is gradually moving closer to this year's low at 1.5542 and it might be reached already today if UK's data surprise as to the downside.
In terms of the pair's performance it has not been much different from any other week, since the Pound was outperformed by its American counterpart.
Despite the fact that the pair appreciated yesterday it still has declined on a weekly basis; moreover, it reached the lowest level this year on Wednesday.
GBP/USD dropped 1.12% on Wednesday, as the FOMC meeting boosted the overall confidence towards the US economy and its currency.
GBP/USD rebounded from Monday's dip by adding 0.71% yesterday, despite the UK's inflation falling to the lowest in 12 years.
GBP/USD dipped 0.58% yesterday, as most of the US data were released positive.
The pair is consolidating around the 1.57 mark and it has left the boundaries of the down-trend that dictated the pair's movements since July.
The British currency has been the stronger performer amongst the two; moreover, it has left the down-trend's trading range. Although, to completely break the trend it has to breach the monthly PP at 1.5755. Yesterday the pair continue to advance, despite the surprisingly good retail sales numbers out of US.
"Pending orders in 100-pip range are strongly bearish with 69% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5641 and it is represented by weekly PP. Meanwhile, an advance remains a possibility, while for that purpose the closest resistance is the weekly R1 that is located at 1.5713." The British Pound
"Pending orders in 100-pip range are strongly bearish with 64% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5641 and it is represented by weekly PP. Meanwhile, an advance remains a possibility, while for that purpose the closest resistance is the weekly R1 that is located at 1.5713." GBP/USD rose slightly,
"Pending orders in 100-pip range are strongly bearish with 61% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5641 and it is represented by weekly PP. Meanwhile, an advance remains a possibility, while for that purpose the closest resistance is the weekly R1 that is located at 1.5713." After sliding to
"Pending orders in 100-pip range are strongly bearish with 67% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5518 and it is represented by weekly S1. Meanwhile, an advance remains a possibility, while for that purpose the closest resistance is the weekly pivot point and 55-day SMA that are located
"Pending orders in 100-pip range are strongly bearish with 66% of them set to sell. Therefore, a decrease in value is likely, the closest support is placed at 1.5590/67 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
"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 1.5590/67 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
"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