On Monday, the GBP/USD began a surge that was caused by meeting the historical low level at 1.2020. By the middle of London's trading session the rate was aiming at a resistance cluster at 1.2090. US and UK CPI and Retail Sales During this week there are five scheduled government macroeconomic data releases, which might cause sudden moves in the GBP/USD. On Tuesday morning,
The GBP/USD has dropped down to the historical low level of 1.2090. The move broke the ascending channel pattern of the hourly candle chart. The decline occurred, as soon as the pair failed to properly break the resistance of the 200-hour simple moving average. The rate only pierced this level. Meanwhile, note that the move was still consistent with the pattern of
The ascending pattern on the hourly candle GBP/USD chart held its ground and has pushed the rate higher. Moreover, during Thursday's London trading morning hours the rate was trading amidst the hourly simple moving averages, which were the last resistance to the rate before the pivot point at 1.2212. Latest Fundamental Event Report Institute for Supply Management released the US Non-Manufacturing PMI data,
On Wednesday, the GBP/USD passed the support of the 55 and 100-hour simple moving averages. Afterwards, the rate touched the lower trend line of an ascending channel pattern at 1.2135. In accordance with the pattern, the rate should begin a surge. Although, a move upwards would face the 55, 100 and 200-hour simple moving averages at 1.2146, 1.2159 and 1.2197. Latest Fundamental
Since the middle of Thursday's trading session the GBP/USD has been making attempts to pass the resistance of the 55-hour simple moving average. In general, the rate was expected to be pushed down as soon as the 100-hour simple moving average approaches and provides additional technical resistance. Latest Fundamental Event Report Institute for Supply Management released the US Non-Manufacturing PMI data, which
Since the middle of Thursday's trading session the GBP/USD has been making attempts to pass the resistance of the 55-hour simple moving average. In general, the rate was expected to be pushed down as soon as the 100-hour simple moving average approaches and provides additional technical resistance. Latest Fundamental Event Report The Federal Reserve released the Federal Funds Rate data, which came
Due to the announcement of the head of the Federal Reserve the GBP/USD dropped. Namely, it was announced that there will most likely be no more rate cuts this year. From a technical perspective, the rate was fluctuating above the support of the 1.2100 level. In general, the rate was expected to continue to decline, as soon as it is approached
As expected, the GBP/USD has traded sideways below the weekly S3 at 1.2186 and above the 1.2150 level. The currency exchange rate is expecting the central bank announcements of this week. Namely, the FOMC announcements will be made on Wednesday at 18:00 and Bank of England on Thursday at 11:00 GMT. Main focus on central banks This week top attention will be
On Tuesday, the GBP/USD continued to plummet, as the rate reached the 1.2120 level during the early London trading hours. In general, the rate has no technical support levels and decline. On the other hand, note that the rate is expecting the announcements of the Federal Reserve and the Bank of England on Wednesday and Thursday. Latest Fundamental Event Report The Bureau of Economic
On Thursday, the GBP/USD exchange rate dropped to the support level at 1.2426. During today's morning, the rate was testing the given level.If the given support level holds, a reversal north is expected in the nearest future.Latest Fundamental Event Report The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT. The GBP/USD
The GBP/USD was recovering on Wednesday in a sharp move upwards. Namely, by the middle of Wednesday's London trading session the currency exchange rate had reached the combined support of the 100 and 200-hour simple moving averages at 1.2485. Latest Fundamental Event Report The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT.
The GBP/USD was recovering on Wednesday in a sharp move upwards. Namely, by the middle of Wednesday's London trading session the currency exchange rate had reached the combined support of the 100 and 200-hour simple moving averages at 1.2485. Latest Fundamental Event Report The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT.
During Tuesday morning, the GBP/USD currency pair tried to surpass the psychological level at 1.2420. Latest Fundamental Event Report The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT. The GBP/USD exchange currency rate gained 12 pips or 0.10% right after the release. The British Pound continued trading at the 1.2480 level
During Monday morning, the GBP/USD exchange rate was testing the support cluster formed by the 55-, 100- and 200-hour SMAs, as well the weekly PP in the 1.2469/1.2505 range. Latest Fundamental Event Report The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT. The GBP/USD exchange currency rate gained 12 pips or
On Friday morning, the GBP/USD traded at the 1.2540 level. The rate had made failed attempts to pass the resistance of the 1.2560 level. In general, the rate was expected to resume its surge after it consolidates after the sharp surge that was caused by the Federal Reserve hinting rate hikes on Thursday. Latest Fundamental Event Report The British Pound appreciated against
On Thursday, the GBP/USD surged up to the 1.2490 level in a sharp move that occurred as soon as the resistance of the 55-hour simple moving average was passed. At the 1.2490 level the rate was stopped by the combination of the 100 and 200-hour simple moving averages and a weekly pivot point. Latest Fundamental Event Report The British Pound traded depreciated
By the middle of Wednesday's trading, the decline of the GBP/USD had touched the low level of 1.2382. If one zooms out the hourly chart and loads previous price information for exact referencing of trend line, it can be seen that the rate met with a strong support cluster. The support cluster is made up of a dominant pattern's lower trend
Due to fundamentals, the GBP/USD plummeted on Tuesday. Although, the decline occurred in the aftermath of the rate passing most technical support levels. By the time of publication the GBP/USD rate had reached the 1.2420 level. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic and
The squeeze between the 55 and 200-hour SMAs resulted in a break out to the upside. The surge reached the 1.2580 level before the rate retraced back down. On Monday, the GBP/USD had found support near 1.2550 and was expected to surge. Latest Fundamental Event Report The Federal Reserve released the US FOMC Meeting Minutes data, where the US policymakers provide in-depth
The GBP/USD has broken the previously active descending channel pattern. The event resulted in a test of the 1.2570 level, which managed to hold and cause a decline. By the middle of Friday's trading session, the GBP/USD was about to get squeezed in between the 55 and 200-hour simple moving averages near the 1.2530 level. Latest Fundamental Event Report The Federal Reserve
During Thursday's morning London trading hours, the surge of the GBP/USD was about to touch a resistance cluster at the 1.2545 level. At that level a monthly pivot point, upper trend line of a descending channel pattern and the 200-hour simple moving average will meet at midday. Latest Fundamental Event Report The British Pound traded sideways against the US Dollar, following
The GBP/USD reached the target support levels at 1.2440. The support levels were tested two times by the middle of Wednesday's trading session. The tests were followed by a failure, which resulted in a surge that reached technical resistance at 1.2490. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data, which came out better-than-expected of
The decline of the GBP/USD reached the previously set targets, as it reached the 1.2488 level on Tuesday morning. Moreover, the pair passed the support levels near 1.2480 and was set to reach the 1.2440 level, where it would be met by two technical support levels. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data,
On Monday, the GBP/USD was declining in accordance with the morning's daily short term Technical Analysis publication. In general, the rate was expected to gradually reach the 1.2490 level. Latest Fundamental Event Report Bureau of Labor Statistics released the US ISM Non-Farm Employment Change data , which came out better-than-expected of 244K compared with the forecast of 162K. According to the official release: