On Thursday, the GBP/USD currency exchange rate passed the resistance of the 200-hour simple moving average that had kept the rate down since mid-Wednesday. After confirming the moving average as support, the rate approached the upper trend line of the channel down pattern that had guided the rate down since August 30. Economic Calendar On Friday, the top event of the week
The GBP/USD currency exchange rate has reached the 1.2040 level, which served as support. The reaching of the new low level was followed by a steep recovery of the pair. By mid-Wednesday, the rate was approaching the 200-hour simple moving average near 1.2170. Economic Calendar On Thursday, minor action is expected from the US Unemployment Claims. On Friday, the top event of the
The GBP/USD has continued its decline and reached below the 1.2100 mark. Moreover, on Tuesday the 1.2100 level appeared to have turned into resistance. Economic Calendar On Wednesday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT and the US ISM Services PMI at 14:00 GMT. On Thursday, minor action is expected from the US Unemployment Claims. On Friday, the top
The recovery of the Pound against the US Dollar has reached the resistance of the 200-hour simple moving average near 1.2250. Economic Calendar This Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. Next week, the US ISM Manufacturing PMI could impact the markets via the US Dollar at 14:00 GMT. On Tuesday, the
The support of the channel down pattern has caused a recovery of the GBP/USD currency pair. During the second part of Thursday's trading, the rate was trading around the 1.2200 mark. Economic Calendar On Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view A continuation of the ongoing Pound's recovery against the
The pair has been declining by closely trailing the lower trend line of the channel down pattern. Throughout the first part of Wednesday's trading, the trend line kept the rate up. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view Eventually, the decline of the Pound against the US
The GBP/USD has reached the support of the weekly S1 simple pivot point at 1.2170. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view A recovery from the 1.2170 level could encounter resistance in the 1.2200 mark and the 50-hour simple moving average near 1.2220. Higher above, note the
This week, the Pound reached the 1.2200 mark and was set to decline further. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view The decline could look for support in the weekly S1 simple pivot point at 1.2170 and the lower trend line of the channel down pattern. In
The GBP/USD bounced off the combined support of the weekly S2 at 1.2447 and the lower trend line of the channel down pattern. During the early hours of Friday's trading, the pair reached the upper trend line of the pattern near 1.2500 and appeared to have resumed the broader decline. Economic Calendar This week, notable events are over. Due to this reason,
The GBP/USD resumed its descent after the release of the better than expected US ISM Services PMI survey results. In the aftermath of the initial drop, it was spotted that the recent lower low and lower high levels can be connected to reveal support and resistance lines. At mid-day on Thursday, the rate was looking for support in the combination
The broader strength of the US Dollar has resulted in the GBP/USD pair passing below the 1.2548/1.2579 range. However, the event has not been followed by a larger decline of the rate. During Tuesday's European trading hours, the rate fluctuated around the pierced support zone, as if confirming it as resistance before resuming the broader decline. Economic Calendar Watch the US ISM
On Friday, the GBP/USD reacted to the strengthening of the US Dollar, which was caused by the US monthly employment data release. The decline of the pair eventually found support in the 1.2548/1.2579 range and started a recovery. By mid-Monday, the rate had reached the combined resistance of the 50, 100 and 200-hour simple moving averages near 1.2650. Economic Calendar Watch the
During the week of notable US data releases the GBP/USD surged to the resistance of the 1.2750 level. The resistance was enough to cause a decline, which on Friday was passing below the weekly simple pivot point at 1.2640. Economic Calendar Next week, watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable
The release of the US job openings data caused major USD weakness. On the GBP/USD charts it resulted in the rate breaking all resistance up to the 1.2650 level. On Wednesday morning, the pair was confirming the 1.2620 level as support. Economic Calendar On Wednesday, the US ADP Non-farm Employment Change number could impact the US Dollar's value at 12:15 GMT. However,
During late Monday's trading, the Pound managed to recover against the US Dollar. However, it encountered resistance on Tuesday morning in the 100-hour simple moving average near 1.2630. The encounter turned into a decline. By the middle of the day, the rate had reached below the Monday's low level of 1.2565. Economic Calendar On Wednesday, the US ADP Non-farm Employment Change number
During the high volatility caused by Jerome Powell, the GBP/USD fluctuated between 1.2650 and 1.2550. During the event it was shown that the 50-hour simple moving average can act as resistance and the 1.2550 mark acts as support. On Monday, the moving average was keeping the rate down. Economic Calendar This week, on Tuesday the CB Consumer Confidence and JOLTS Job Opening
Despite initially finding support in the 1.2620 level and afterwards surging up to 1.2725, during the second half of Thursday's trading the GBP/USD rate declined. By 18:00 GMT, the pair had reached below the 1.2620 level's support. At the time of analysis the pair was sharply heading to the 1.2600 mark. Economic Calendar On Friday, the top event of the week is
The release of the United Kingdom's Manufacturing and Services sector Purchasing Managers Indices has caused a major decline of the Pound's value. The survey results were expected to be low. However, the actual results were far below the already pessimistic expectations. On August 23, the data caused a decline, which pierced below a cluster of support levels near 1.2740. A decline
On Tuesday morning, the GBP/USD pierced the resistance of the 1.2782/1.2792 range. However, the 1.2800 stopped the rate and forced it back down to the 1.2760 level. Economic Calendar On Wednesday, watch the UK Manufacturing and Services sector Purchasing Managers Index results. Survey results for are set to be released at 08:30 GMT. Later on, at 13:45 GMT, the US PMIs are scheduled
The GBP/USD has shortly traded below the 1.2667/1.2685 range on Monday. However, the decline did not result in a broad descending of the pair, as support was found in 1.2620. On Tuesday, the pair had recovered and traded near 1.2750. The 50, 100 and 200-hour simple moving averages failed to stop the GBP recovery against the USD. Economic Calendar This week, watch
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. This caused a piercing of the resistance range and 1.2800 mark, before the pair started a decline. The decline passed below the previously
The GBP/USD found support in the 1.2685/1.2695 range and the 1.2700 mark. Meanwhile, a resistance range has been spotted and marked at 1.2783/1.2793. Despite the updates, the rate remained near previous levels. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT, on Thursday. The inflation data will reveal whether the Fed is managing to fight inflation or not.
The GBP/USD currency pair has encountered resistance in the descending 200-hour simple moving average near 1.2790. The event has resulted in a decline. On Tuesday morning, the pair was heading to the support of the 1.2700 mark. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT, on Thursday. The inflation data will reveal whether the Fed is managing
In the aftermath of the GBP/USD surge, which was caused by the US employment data weakening the USD, the currency rate has been respecting round exchange rate levels. Namely, the pair has encountered resistance as it approached 1.2800 and support is found near 1.2700. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT. The inflation data will reveal