In the aftermath of the Bank of England rate hike, the Pound recovered against the US Dollar. The recovery appears to have been stopped by the weekly S1 simple pivot point at 1.2740. By mid-Friday, the pair was trading just above the support of the 1.2700 mark. Economic Calendar On Friday, at 12:30 GMT, the US employment data will impact the USD
The Bank of England has just now increased its Official Bank Rate from 5.00% up to 5.25%. The move was expected by the financial markets. As a result of the policy change the value of the Pound initially reacted with a downwards move, before returning to previous levels. The members of the monetary policy committee voted as follows. Eight members
The GBP/USD ended its sideways consolidation with a decline. By mid-Tuesday, the decline had reached below the 1.2750 level and had almost touched the weekly S1 simple pivot point at 1.2740. Economic Calendar On Thursday, watch out for the Bank of England's expected rate hike at 5.25%. It is possible that not only the GBP pairs, but other financial instruments could adjust
The GBP/USD currency exchange rate has been trading around the 1.2850 mark since mid-Friday. Support is found in the 1.2830/1.2840 range and the 50-hour simple moving average. Resistance is provided by the 1.2870/1.2890 zone, which is strengthened by the weekly simple pivot point at 1.2868 and the 100 and 200-hour simple moving averages. Economic Calendar This week, the rate could be impacted
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The GBP/USD reacted to the weakness
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the GBP/USD retraced back up above 1.2900 and broke resistance levels. It could
The GBP/USD has found support in the 1.2800 mark, which caused a move above the resistance and support zone near 1.2850. However, by mid-Tuesday, the rate was back below 1.2850. In general, previous levels are still relevant. Economic Calendar This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT on Wednesday. The Federal Reserve is
The GBP/USD has passed below the support and resistance zone near 1.2850. The range could soon be confirmed as resistance and a decline of the Pound against the US Dollar might continue. Economic Calendar This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT on Wednesday. The Federal Reserve is expected to increase base interest
The GBP/USD currency pair has revealed that in the first part of July it has been surging in a channel up pattern. Meanwhile, it has been observed that the 50, 100 and 200-hour simple moving averages are quite often managing to impact the rate's direction. Economic Calendar On July 7, at 12:30 GMT, the US Average Hourly Earnings, Non-Farm Employment Change and
By large, the GBP/USD has been ignoring the resistance zone at 1.2718/1.2727. It no longer manages to impact the rate. Meanwhile, it has been spotted that the pair continues to find support in the 200-hour simple moving averages near 1.2690. Economic Calendar On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT, the US Unemployment Claims at 12:30 GMT
On Tuesday, the GBP/USD currency pair managed to break the resistance zone at 1.2718/1.2727. However, the 1.2740 level acted as resistance and forced the pair back below the zone. On Wednesday, the mentioned range still kept the pair down. Meanwhile, support was found in the combination of the 1.2700 mark and the 50 and 200-hour simple moving averages. Economic Calendar This week,
The GBP/USD trades below a resistance zone at 1.2720. Meanwhile, support appears to be provided by the 1.2660 level. Economic Calendar This week, the top event will be the FOMC Meeting Minutes publication on Wednesday at 18:00 GMT. The Meeting Minutes will reveal additional details into the US monetary policy. On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT,
The United States Bureau of Economic Analysis has published the US Final quarter on quarter Gross Domestic Product data. The markets expected US economy to have grown in the first quarter of the year by 1.4%. Instead of the expected, the economy has been reportedly increased by 2.0%. On the GBP/USD charts it resulted in a drop below 1.2600. The weekly
The 200-hour simple moving average provided enough resistance for the rate to start a decline. On Wednesday, the rate traded below the 50 and 100-hour simple moving averages near the 1.2720 level. Economic Calendar On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value. On Friday, at 12:30 GMT,
The 200-hour simple moving average is stopping the Pound from surging higher against the US Dollar. The SMA is strengthening the 1.2750 level, which is most likely also providing its impact. In general, previous forecast scenarios remains relevant. Economic Calendar On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the
The GBP/USD is finding support in the 1.2685/1.2700 range. Meanwhile, it was observed on Monday that resistance was encountered in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2746. Economic Calendar This week, the pair could react to the release of US Durable Goods Orders on Tuesday at 12:30 GMT. On Thursday,
Despite the surprise Bank of England interest rate hike, the GBP/USD currency exchange rate remains near 1.2800. For most part of the week, the pair has traded between 1.2700 and 1.2850. Meanwhile, technical levels appear to have little impact on the pair. Economic Calendar On Friday, the rate could react to the Flash Manufacturing and Services PMI releases. UK data will be
Despite a recent short lived surge, the GBP/USD continues to trade below the 1.2400 mark. Meanwhile, it was spotted that the pair mostly ignores the hourly simple moving averages. Economic Calendar On June 1, watch the US ISM Manufacturing Purchasing Managers Index release at 14:00 GMT. On June 2, the United States are scheduled to publish the monthly employment data sets. At
On Friday, the GBP/USD bounced off the resistance zone at 1.2390/1.2395 and the 100-hour simple moving average. However, the decline was actually caused by fundamental events. The US PCE Inflation data caused a surge of the value of the US Dollar. On Monday, the pair found resistance in the 100-hour simple moving average and support appeared to be provided by
The GBP/USD declined below 1.2320, but did not reach the 1.2300 mark on Thursday. During the first part of Friday's European trading, the rate had recovered above 1.2360. Economic Calendar On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar. Next week, watch for the US ISM Manufacturing PMI on Thursday at 14:00
The GBP/USD currency pair shortly traded below the 1.2340 level on Thursday morning. However, the event was followed by a recovery up to the 50-hour simple moving average and the 1.2390/1.2395 zone. Economic Calendar On Thursday, The US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD. On Friday, at 12:30 GMT, the Core PCE
On Tuesday, GBP/USD found support in the weekly S1 simple pivot point at 1.2373 and recovered as high as the 1.2450 mark, before the United Kingdom Consumer Price Index data was released. The inflation data caused an increase of volatility with an initial spike to the resistance zone at 1.2470/1.2485 and a follow up decline that almost reached 1.2400. Economic Calendar On
On Tuesday morning, the GBP/USD currency exchange rate passed below the support zone at 1.2390/1.2395. Next target for the decline might be the weekly S1 simple pivot point at 1.2373. Economic Calendar On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy. On Thursday, The US Preliminary GDP and Unemployment Claims releases at
The GBP/USD has revealed a support and a resistance zones. Support is found at 1.2390/1.2395. Resistance is provided by the 1.2470/1.2480 range. On Monday, the pair bounced off the resistance and resumed its decline. Economic Calendar On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy. On Thursday, The US Preliminary GDP and