After reaching the 1.2980 level on Friday, the GBP/USD began a decline. By the middle of Monday's GMT trading hours, the currency exchange rate had reached the 1.2900 level. Moreover, the pair had passed most technical support levels and could decline as low as 1.2860. UK Flash PMIs The British Pound traded sideways against the US Dollar, following the
As expected, on Thursday the GBP/USD reached the 1.2850 level. This level provided the rate with support, and, by the middle of Friday's London trading hours, the pair had reached the resistance levels near 1.2920. In general, future forecasts were based upon what would occur at the 1.2920 level. UK Retail Sales The British Pound appreciated against the
The 200-hour simple moving average failed to keep the rate up. Moreover, the support cluster of technical levels from 1.2900 to 1.2924 also failed. By the middle of Thursday's London trading hours, the GBP/USD currency exchange rate had reached the 1.2880 level. UK Consumer Price Index The British Pound appreciated against the US Dollar, following the UK CPI release
Despite not having any technical resistance on Tuesday, the GBP/USD did not surge. Instead, by the middle of Wednesday's trading session the rate had retreated to the 200-hour simple moving average near 1.2980. In the case of the SMA failing to provide support, the currency exchange rate could drop down to the weekly S1 simple pivot point at 1.2924. Economic
The GBP/USD passed the support of the 1.3000 level and reached the 200-hour simple moving average near 1.2970. Previously, this was described as one of the likely scenarios On Tuesday morning, the SMA caused a surge, which pierced various resistance levels, as the rate reached the 1.3040 level. Economic Calendar During the week, there are couple events that could impact the
On Monday, the GBP/USD currency exchange rate passed the support of the 55-hour simple moving average and a monthly pivot point at 1.3020. In general, the rate was expected to look for technical support near the 1.3000 level. Economic Calendar During the week, there are couple events that could impact the GBP/USD rate. On Wednesday, at 09:30 GMT, the UK CPI is
The GBP/USD exchange rate breached the rising wedge pattern north. The rate tested the 1.3060 level. In general, it is likely that the rate could trade upwards, as it is supported by the monthly S1 at 1.3021. Economic Calendar Today, the US Retail Sales data will be out also at 13:30 GMT. This event has caused moves on the pair since
The GBP/USD exchange rate surpassed the psychological level at 1.2950. During Thursday morning, the rate was testing the resistance provided by the weekly PP. In general, it is likely that the rate could trade upwards within the rising wedge pattern in the short run. Economic Calendar This week's data is available. Click on the link below to see the historical
The GBP/USD exchange rate surpassed the psychological level at 1.2950. During Wednesday morning, the rate was testing the resistance provided by the 200-hour SMA and the weekly PP. If the given resistance holds, the rate is expected to trade downwards within the following trading session. Economic Calendar This week's data is available. Click on the link below to see the
The GBP/USD exchange rate remains to trade below the 1.2950 level. During Tuesday morning, the rate was testing the resistance provided by the 100-hour SMA. If the given resistance holds, the rate is expected to trade downwards within the following trading session. In this case the rate could re-test the 1.2880 level. Economic Calendar This week's data is available. Click
The GBP/USD exchange rate failed to surpass the 1.2880 level. The rate jumped to the resistance provided by the 55-hour SMA and the Fibonacci 38.20% retracement at 1.2918. If the given resistance holds, the rate is expected to trade downwards within the following trading session. Economic Calendar This week's data is available. Click on the link below to see the
The GBP/USD has declined below the support of the 1.2950 level. The decline paused above the 1.2920 level. Afterwards, the rate began to trade sideways between the 1.2920 and 1.2950 levels. In general, the rate was expected to trade sideways until it is approached by the hourly simple moving averages, which would provide technical resistance. Economic Calendar US employment data sets are
By the middle of Thursday's GMT trading hours, the hourly simple moving averages had not pushed the rate down. Despite providing resistance, the 55-hour SMA did not push the rate down, as it began to move sideways. In general, the rate was expected to continue to trade between the support of the 1.2950 level and the 55-hour SMA, which was
After consolidating by retracing back up, on Wednesday, the GBP/USD returned to trade below the 1.3000 mark. In general, as a consolidating retracement back up to the hourly simple moving averages had removed the oversold pressure, the pair was expected to continue to decline. Economic Calendar US employment data sets are scheduled to be published on Friday at 13:30 GMT. GBP/USD moves
The decline of the GBP/USD has continued, as on Tuesday morning the pair had touched the 1.2950 level. By the middle of the day's European trading hours, the currency exchange rate had retraced back up and found resistance in a pivot point at 1.3020. Economic Calendar On some calendars, on Wednesday, the ADP Non-Farm Employment Change is shown as a high
After reaching above the 1.3200 level on Friday, the rate plummeted on Monday. The crash was caused by comments made by UK officials, including the Prime Minister Boris Johnson. A report on the event will be available during today's GMT trading hours. Meanwhile, from a technical perspective, on Monday, the rate was looking for support. Economic Calendar Relevant data publications for
By the middle of Friday's London trading hours, GBP/USD currency exchange rate had reached the 1.3140 level. Immediately after the achievement, the rate retraced back to find support in the 1.3100 mark. In the near term future, the GBP/USD was expected to continue and reach the weekly R1 simple pivot point at 1.3181. Bank of England Monetary Policy Report The
On Thursday, the Bank of England Monetary Policy Committee's vote dispersion surprised the markets, as it was more bullish for the GBP than it was expected. Namely, GBP/USD jumped due to the announcement. Note that the spike occurred a minute before the release. This happens during the aftermath of a scandal of BoE announcement information being released to some
The 1.3000 level was pierced on Tuesday. On Wednesday, the rate had retraced back up in the borders of a channel down pattern. In the near term future, the rate was expected to bounce off the upper trend line of the pattern and resume its decline. In the case of a decline, the pair would aim for the support
On Tuesday morning, the GBP/USD exchange rate touched the 1.3005 level. In general, the rate was expected to continue to decline until it reaches the 1.3000 level. The 1.3000 level is expected to provide support. However, take into account that the 1.3000 failed to stop the pair from declining two times in January. Economic Calendar During the last week of
During Monday morning, the GBP/USD exchange rate was trading between the 55- and 200-hour moving averages. If the given moving averages hold, it is likely that the British Pound could consolidate against the US Dollar in the short term. Economic Calendar During the last week of January, most attention will be paid to the US Federal Reserve and the
On Friday morning, the GBP/USD traded with almost 100 pip volatility during a period of one hour. The volatility ended with the rate trading below the 1.3100 level. At the time of writing, the pair was finding support in the 1.3080 level, which was strengthened by the support of the 100-hour simple moving average. Economic Calendar During the last week of January, most
The GBP/USD managed to pass the resistance of the 1.3100 level. On Wednesday, the rate surged to the 1.3150 level, below which it began to trade sideways. In the meantime, the high level 1.3119 of December 17 had begun to provide support. In general, the rate was expected to continue to consolidate by trading sideways between 1.3119 and 1.3150 until
After trading just above technical support levels that are located from 1.3025 to 1.3035, the GBP/USD began to surge and was heading to the 1.3100 level. The 1.3100 level was expected to stop the surge. Moreover, a weekly R1 pivot point was providing resistance at 1.3104. UK Average Earnings Index The British Pound appreciated against the US Dollar, following the UK Average