The GBP/USD has traded almost sideways during this week. Namely, it has remained near the 1.2880 level. In regards to the near term future, the rate is expected to be pushed down by the 55-hour SMA. Moreover, the move would be consistent with the newly discovered channel down pattern. US ISM Non-Manufacturing PMI The Institute for Supply Management (ISM) released the
The decline of the GBP/USD has reached below the 1.2900 level. Namely, the 1.2880 level was touched on Monday afternoon. On Tuesday, the currency exchange rate found support in that level and surged back up to the 1.2900 mark, which began to provide resistance. Economic Calendar Main attention this week will be set on the Bank of England rate announcement. The rate
The GBP/USD has passed the support of the 55-hour SMA and broken an ascending pattern. By the middle of Monday's trading the rate had reached technical support levels that were located just above the 1.2910 level. US ISM Manufacturing PMI The Institute for Supply Management (ISM) released the US ISM Manufacturing PMI survey results, which came out worse-than-expected of 48.3 compared with
The resistance of the weekly R1 of the simple pivot points at 1.2970 has continued to keep the GBP/USD rate down. In general, the rate was expected to remain unchanged until the 55-hour SMA and the lower trend line of an ascending channel pattern are reached. FOMC Statement and Federal Funds Rate The Federal Reserve released the US Federal Funds Rate data,
The momentum created by the Federal Reserve rate cut was enough to push the rate through the resistance of a 38.20% Fibonacci retracement level at 1.2918. By the middle of Thursday's London trading session, the pair had tested the resistance of the 1.2950 level. In the near term future, the rate was expected to reach the resistance of the weekly R1
The GBP/USD has reached the 1.2900 level, where it was pushed by hourly simple moving averages. The rate was expected to trade sideways below this level until the US GDP release and the Federal Reserve Rate announcement. Economic Calendar This week the GBP/USD is bound to be affected by US data and an expected rate cut. On Wednesday, October 30, the US ADP Non-Farm
Despite increasing trading volatility on Tuesday, the GBP/USD remained in the previous trading range. The future forecasts for the rate were rather complicated, as Brexit, trade politics and US monetary policy were all impacting the evaluation of both currencies. Economic Calendar This week the GBP/USD is bound to be affected by US data and an expected rate cut. On Wednesday, October 30, the US
At the middle of Monday's trading, the GBP/USD was being pushed down by the 55-hour simple moving average near the 1.2850 mark. In general, the currency exchange rate was expected to trade sideways until the Federal Reserve Rate announcement, as Brexit deadline has been extended and with it attention was removed from it. Economic Calendar This week the GBP/USD is bound to be
During today's morning, the GBP/USD exchange rate was testing the support level formed by the weekly PP at 1.2832. Given that the rate is pressured by the 55-, 100- and 200-hour SMAs, it is likely that some downside potential could prevail. Economic Calendar This week, there are no events left that could affect the GBP/USD pair. Next week, data releases from the US will
During today's morning, the GBP/USD exchange rate tried to surpass the resistance formed by the 55- and 100-hour SMAs, as well the monthly R2 and the Fibo 38.20%. If the given resistance holds, it is likely that some downside potential could prevail in the market. Economic Calendar This week there is only one event that could affect the GBP/USD pair. Today, the
During today's morning, the GBP/USD exchange rate was trading at the psychological level at 1.2850. The British Pound could consolidate against the Greenback, as the rate is squeezed by the 55- and 100-hour SMAs, as well the weekly PP. Economic Calendar This week there is only one event that could affect the GBP/USD pair. On Thursday, October 24, the US Durable Goods
During today's morning, the GBP/USD exchange rate was trading below the psychological level at 1.3000. Given that the rate is supported by the 55- and 100-hour moving averages, it is likely that some upside potential could prevail. Economic Calendar This week there is only one event that could affect the GBP/USD pair. On Thursday, October 24, the US Durable Goods data will be
During today's morning, the GBP/USD exchange rate reached the psychological level at 1.3000. Given that the rate is supported by the 55- and 100-hour moving averages, it is likely that some upside potential could prevail. Economic Calendar This week there is only one event that could affect the GBP/USD pair. On Thursday, October 24, the US Durable Goods data will be released at
During today's morning, the GBP/USD exchange rate continued to test the resistance level formed by the monthly R2 and the Fibo 38.20% at 1.2920. The given resistance level could be passed, as soon as the 55-hour SMA push the rate through it. Economic Calendar This week there are no events left that could affect the GBP/USD pair. Take into account that next week there
During today's morning, the GBP/USD exchange rate tested the resistance level formed by the monthly R2 and the Fibo 38.20% at 1.2920. In general, the given resistance level could be passed, as soon as the 55- and 100-hour SMAs push the rate through it. Economic Calendar This week there are no events left that could affect the GBP/USD pair. Take into account that next
Since Tuesday, the GBP/USD exchange rate has been testing the resistance level located at 1.2760. In general, the given resistance level could be passed, as soon as the 55-hour SMA pushes the rate through it. Economic Calendar This week, there will be UK macroeconomic data releases, which are expected to impact the GBP/USD through the adjustments of the GBP value. Today, at 12:30 GMT
On Tuesday, another test of the 1.2700 was done by the GBP/USD. However, the rate failed to pass that level. In general, the 1.2700 could be passed, as soon as the 55-hour SMA pushes the rate through it. Economic Calendar This week, there will be UK macroeconomic data releases, which are expected to impact the GBP/USD through the adjustments of the GBP value. On
The fundamental surge of the GBP/USD reached the resistance of the 1.2700 level, from where a decline began. By the middle of Monday's London trading hours the rate had declined down to the 1.2550 mark. In general, the currency exchange rate was set to meet with various technical support levels near the 1.2500 level. Economic Calendar This week, there will be many UK
The traders, which went long on the expectations of a surge to the 1.2300 mark, where surprised on Friday morning. The GBP/USD had reached the 1.2500 level. Moreover, if trailing stop losses had been set properly, the whole move of approximately 250 pips could have been captured. Economic Calendar This week data releases are over. Next week, there will be many UK
By the middle of Thursday's London trading, the GBP/USD remained near previous day's trading levels. Although, the pair broke the resistance of the weekly S1 and the 55-hour simple moving average near 1.2230. Due to that reason another surge to the resistance levels below 1.2300 was expected. Economic Calendar On Thursday, the US CPI will be released at 12:30 GMT. The event has
During today's morning, the GBP/USD exchange rate tried to surpass the 1.2260 level. Note that the rate is pressured by the 55-, 100- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. Economic Calendar Today, the US Federal Reserve Meeting Minutes are set to be published at 18:00 GMT. Since February the event has caused
The technical levels just above the 1.2300 mark eventually beat down the GBP/USD currency rate. On Tuesday morning, the rate had already reached the 1.2240 level. Moreover, the decline in theory was expected to reach the 1.2228 level, where the S1 of the weekly simple pivot points was located at. Economic Calendar On Tuesday the US PPI release at 12:30 GMT could cause
On Monday morning, the GBP/USD declined below technical levels that surrounded the 1.2320 mark. Future scenarios were built around what would happen near that level. US Employment Data The Bureau of Labor Statistics released the US Unemployment Rate data, which came out better-than-expected of 3.5% compared with the forecast of 3.7%. According to the official release: "In September, the unemployment rate declined by
The first scenario laid out on Thursday became reality, as the rate pierced the resistance of the late September channel down pattern and reached the resistance levels at 1.2350. Moreover, the rate touched the 1.2415 level before retreating back down. On Friday morning, the rate was trading sideways below a weekly pivot point that was located at the 1.2356 level. In