Yesterday, the GBP/USD exchange rate reversed north from the support formed by the weekly S1 and the monthly PP in the 1.2500 area. During Wednesday morning, the rate was trading at 1.2600. Economic Calendar On Thursday, the publication of the US Retail Sales and Unemployment Claims at 12:30 GMT. The week will end with the UK Retail Sales release at 08:30 GMT. Detailed
The GBP/USD exchange rate tumbled below the 1.2540 level. It is unlikely that some downside potential could prevail, as the rate could gain support from the weekly S1 and the monthly PP near 1.2500. Economic Calendar This week, data releases are scheduled to start on Tuesday. However, the UK GDP and the US CPI data sets have not caused notable moves. Normal
The GBP/USD exchange rate failed to exceed the psychological level at 1.2660. On Monday morning, the rate was testing the support formed by the 100-hour SMA and the weekly PP at 1.2590. Economic Calendar This week, data releases are scheduled to start on Tuesday. However, the UK GDP and the US CPI data sets have not caused notable moves. Normal
The GBP/USD did not continue its surge on Thursday. Instead, at 14:00 GMT, the rate began a decline. On Friday, the rate's decline had reached below the 1.2580 mark. On Friday morning, the rate had a few possible future scenarios. Economic Calendar On Friday, the US Producer Price Index and US Core Producer Price Index are set to be released. In the
As forecast, the GBP/USD traded sideways until the 55-hour SMA caught up with it and pushed it up. Namely, the SMA caused a surge, which by the middle of Thursday's GMT trading hours had reached 1.2660 level. In theory, the pair should continue the surge, as it had no technical resistance as high as 1.2700. Economic Calendar On Thursday, at 12:30 GMT
The 55 and 100-hour simple moving averages provided the GBP/USD with the needed support to start a surge. On Tuesday, the surge reached the weekly R1 pivot point at 1.2593, from which it bounced off. Afterwards, since retreating to the 1.2550 mark, the currency exchange rate has been trading sideways. Economic Calendar On Thursday, at 12:30 GMT the weekly US Unemployment Claims
The 1.2520 level stopped the GBP/USD exchange rate's attempts to surge throughout Monday and early Tuesday. By the middle of the day's GMT trading hours, the rate had dipped down to the 1.2470 level. Economic Calendar On Thursday, at 12:30 GMT the weekly US Unemployment Claims are set to be released. They could create above average volatility. On Friday, the US Producer Price
At mid-day on Monday, the GBP/USD broke the medium channel down pattern of the hourly candle chart. The event signalled that the currency exchange rate could continue to surge. In theory, a surge could reach for the 1.2600 level, as there was no technical resistance as high as 1.2593. Economic Calendar Macroeconomic data releases are set to start on Monday at 14:00
The fundamental surge of the GBP/USD ended at the 1.2525 level. After attempting to pass this level for five hours, the rate began a decline. By the middle of Friday's GMT trading hours, the rate had reached the 1.2450 level. GBP Appreciated 2.20% Since Tuesday, June 30, the British Pound has been appreciating actively against the US Dollar. The GBP/USD currency pair
The strong technical resistance cluster did not hold on Wednesday. The scenario of a surge occurred and the rate reached the scenario's target of 1.2483. On Thursday, the pair continued its surge, as it passed the 1.2500 exchange rate level. Economic Calendar The main scheduled macroeconomic data release of the week is bound to occur on Thursday, at 12:30 GMT. At that
On Wednesday, the GBP/USD reached the upper trend line of the channel down pattern, which has guided it since the start of June. Various technical indicators showed that the rate would bounce off from the trend line and decline back to the 1.2254 level. Economic Calendar The main scheduled macroeconomic data release of the week is bound to occur on Thursday, at
The GBP/USD declined, as it was forecast on Monday. The decline reached the support of the weekly S1 simple pivot point at 1.2254 and bounced off it. However, by the middle of Tuesday's GMT trading hours the rate was back at the pivot point. Economic Calendar The main scheduled macroeconomic data release of the week is bound to occur on Thursday, at
On Monday, the resistance of the 55-hour SMA and the simple weekly pivot point near 1.2400 provided resistance to the GBP/USD. In the future, the rate was expected to continue the decline. However, the 1.2300 level was providing psychological support. Economic Calendar The main scheduled macroeconomic data release of the week is bound to occur on Thursday, at 12:30 GMT. At that
The GBP/USD continued to decline on Friday, as it reached a new low level. In the near term future, technical indicators signalled that the currency exchange rate would continue to decline. Economic Calendar There are no more notable events scheduled for this week, which could impact the GBP/USD. 22.06-26.06 Event Historical Reactions GBP/USD short-term review Given that the currency pair is pressured by the
The GBP/USD exchange rate failed to decline below the Fibo 50.00% at 1.2418. It was expected that the rate would decline, as it is pressured by the 55- and 200-hour moving averages near 1.2480. Economic Calendar There are a couple of events, which could impact the GBP/USD currency exchange rate. On Thursday, macroeconomic data set release from the US could impact the
On Monday, the GBP/UDS was trading below the resistance of a 50.00% Fibonacci retracement level and the 55-hour SMA at 1.2420. It was expected that the rate would decline, as soon as additional resistance is provided by the 100-hour simple moving average. Economic Calendar There are a couple of events, which could impact the GBP/USD currency exchange rate. On Tuesday, the UK
During Thursday, the GBP/USD exchange rate dropped below the 1.2450 level. It is likely that some downside potential could prevail as the rate is pressured by the 55-hour SMA. Economic Calendar Next week, there are a couple of events, which could impact the GBP/USD currency exchange rate. On Tuesday, the UK Flash Manufacturing and Services PMIs survey results will be published at
During Wednesday, the GBP/USD exchange rate consolidated in the 1.2550 area. During Thursday morning hours, the rate maintained its consolidation. Economic Calendar This week, there are a lot of events, which could impact the GBP/USD currency exchange rate. Today, the future of the GBP is set to be revealed. The Bank of England will make a rate announcement at 11:00 GMT. Expect
During Tuesday, the GBP/USD exchange rate revealed a short-term descending channel. From a theoretical perspective, it is likely that some downside potential could prevail in the market. Economic Calendar This week, there are a lot of events, which could impact the GBP/USD currency exchange rate. On Wednesday morning, at 06:00 GMT the UK Consumer Price Index is bound to be released. Its
During Tuesday's European trading hours, the GBP/USD traded in limbo around the 1.2650 level. In regards to the near term future, it was expected that the additional support of the 55-hour SMA could cause another surge of the pair. Economic Calendar This week, there are a lot of events, which could impact the GBP/USD currency exchange rate. Already on Tuesday, at 06:00 GMT
On Friday, some downside potential continued to prevail, and the GBP/USD exchange rate declined to 1.2450. During Monday morning, the rate reversed north. However, it is unlikely that bulls could prevail in the market, as the British Pound remains under pressure of the 55-hour SMA. Economic Calendar This week, there are a lot of events, which could impact the GBP/USD
The decline of the GBP/USD eventually stopped at the 1.2550 mark. From there it began a recovery, which had ended by the middle of Friday's GMT trading hours. In the near term future, the rate was expected to reach new low levels. Economic Calendar Next week, there are a lot of events, which could impact the GBP/USD currency exchange rate. Already on Tuesday,
On Wednesday, the GBP/USD made two failed attempts to pass the resistance of the 1.2800 level. These attempts resulted in a decline of the rate, which by the middle of Thursday's GMT trading hours had reached 1.2660. In the meantime, the rate revealed a channel up pattern, which could be used for future guidance. Economic Calendar Economic calendars show the US PPI
The support of the 100-hour simple moving average and the 61.80% Fibonacci retracement level caused a surge on Tuesday. The surge reached the resistance of the 1.2750 level and after a second attempt passed it. On Wednesday morning, the 1.2750 exchange rate level was already providing support to the GBP/USD. Economic Calendar At 18:00 GMT the US Federal Reserve is scheduled to