On Friday, the GBP/USD traded near the 1.2600 level, as it was trading between the support levels near 1.2500 and the resistances near 1.2635. Previously, our analysts expected that the rate would decline to the 1.2600 level. In regards to the near term future, read below. Economic Calendar Next week, on Tuesday, the US Retail Sales could cause a small move
The decline of the GBP/USD has continued, as the currency exchange rate has reached below the 1.2700 level. In the near term future, the pair was expected to reach for the support of a pivot point near 1.2635. Bank of England Rate Cut The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release
The GBP/USD dropped on Tuesday, as the Bank of England unexpectedly cut interest rates. By the middle of Wednesday's London trading hours, the currency exchange rate had shortly touched the 1.2850 mark. Bank of England Rate Cut The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Wednesday at 07:00 GMT. The
On Tuesday, the GBP/USD currency exchange rate passed the support of the 55-hour simple moving average. By the middle of the days GMT trading hours, the pair had no support as low as the 1.3000 mark. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the British GDP and Manufacturing
The GBP/USD pair has reached the 1.3200 level, which provided resistance. On Monday, the currency exchange rate traded near the 1.3100 level, where it had retreated as a part of a consolidation, which was caused by the previous sharp surge. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the
During Friday morning, the GBP/USD exchange rate surpassed the weekly R1 at 1.2985. It is likely that bulls could prevail in the market in the short term, and the rate could remain above 1.3000. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency
During Thursday morning, the GBP/USD exchange rate jumped was testing the resistance level formed by the Fibonacci 38.20% retracement and the monthly PP at 1.2920. If the given resistance does not hold, some upside potential could prevail in the market. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of
On Wednesday, the GBP/USD was retreating after it had bounced off the resistance of the 100-hour simple moving average. By the middle of the day, the rate had begun to trade around the 55-hour SMA. The future of the rate was dependant on whether or not the SMAs manage to push the rate down or not. Fed Rate Cut
By the middle of Tuesday's London trading hours, the GBP/USD had continued to trade above the 1.2740 level. In the meantime, the rate had been approached by the resistance of the 55-hour simple moving average, which began to push the pair down. US ISM Manufacturing PMI The Institute for Supply Management (ISM) released the US ISM Manufacturing PMI survey
On Monday, the GBP/USD currency exchange rate was testing the support of the 1.2750 level, which was initially reached on Friday. In the case of the 1.2750 mark not holding, the rate could reach as low as the 1.2700 mark. Economic Calendar Already on Monday, a data release could cause a notable move on the GBP/USD charts. The US ISM Manufacturing
By the middle of Friday's London trading, the GBP/USD continued to trade between the 1.2860 and the 1.2920 levels. In the meantime, the rate was approached by the hourly simple moving averages from the above. It indicates that the pair could be pushed down through the support of the 1.2860 level. Economic Calendar Next week, already on Monday, a data release
The decline of the GBP/USD eventually found support in the 1.2860 level, which was strengthened by the weekly S1 simple pivot point. Since finding support, the rate began to trade in the range between the 1.2920 level and the mentioned pivot point. Economic Calendar No more relevant data for the pair is scheduled to be released during this week. However, next week's
On Tuesday, the GBP/USD bounced off the resistance of the 1.3020 level. By the middle of Wednesday's trading, the GBP/USD had almost plummeted by 100 pips and touching the 1.2920 level. At that level, the rate should find the support of a 38.20% Fibonacci retracement level. Economic Calendar During the week there are no notable events that might impact the currency
On Monday, the 1.2900 level provided the GBP/USD with the needed support for the pair to break most resistance provided by technical levels. By the middle of Tuesday's GMT hours, the rate was approaching the 1.3000 level. At that level the rate was expected to meet with the resistance trend line of the February high levels. Economic Calendar During the week
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