On Friday morning, the GBP/USD made another attempt to pass the resistance line of a large scale descending pattern, and it failed at it. This event was followed by a decline, which by the middle of the day was aiming at a technical support cluster at 1.2645. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK
A decline in the value of the USD that was caused by the Federal Reserve has pushed the GBP/USD up to the resistance of a large scale descending pattern. The resistance of the channel down pattern was located at the 1.2720 level. The future forecasts are based on what happens at this level. Latest Fundamental Event Report The British Pound appreciated against
The GBP/USD is surging in accordance with the technical patterns. Namely, it broke the resistance of a junior pattern due to finding support in the lower trend line of a larger pattern. On Wednesday, the currency exchange rate was approaching the resistance of the 100-hour simple moving average, which was located just below 1.2600. Latest Fundamental Event The British Pound depreciated against
The GBP/USD resumed to decline in the second half of Monday's London trading, as expected. On Tuesday morning, the currency exchange rate had reached a pivot point's support level at 1.2528. The rate's short term future had two possibilities that are described below. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release
On Monday, the GBP/USD traded sideways between the 1.2580 and 1.2600 levels. The pair was consolidating and waiting for the resistance of the hourly simple moving averages before resuming its decline. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release on Monday at 08:30 GMT. The GBP/USD exchange currency rate lost 17
The GBP/USD exchange rate has reached the psychological level at 1.2670. Given, that the British Pound is under pressure due to concerns about a leadership contest in the Conservative party, it is likely, that the rate could maintain its decline. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release
During Wednesday's morning, the GBP/USD currency pair reached the upper boundary of the short-term descending channel at 1.2740. From the theoretical perspective, it is likely, that a reversal south occurs soon. Otherwise, the pair could maintain its growth. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30
The GBP/USD currency pair has been trading sideways between the 55-, 100- and 200-hour moving averages since yesterday. If the given moving averages hold, it is expected, that the pair could continue to trade sideways. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30 GMT. The GBP/USD
GBP/USD has been making attempts to pass the resistance of an upper trend line of a channel down pattern and a pivot point near 1.2740. By the middle of Friday's trading session a third attempt was in progress. Watch the trend line and the pivot point for signals of the future of the pair's direction. Latest Fundamental Event Institute for Supply Management
By the middle of Thursday's London trading session the GBP/USD was trading between simple moving averages below the 1.2700 level. In general, our hourly candle chart analyst states that the rate most likely could trade sideways in the near term future. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected of 56.9 compared
The GBP/USD on Wednesday was continuing the previously started surge. The rate was still aiming at the resistance pf the pivot point at 1.2735. At that level the rate is expected to wait for the support of the approaching simple moving averages. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came out in
The GBP/USD has broken the resistance of the 200-hour simple moving average. Due to that reason it has no technical resistance as high as the 1.2735 level. At that level the rate would meet the first resistance of the simple weekly pivot points. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came
The surge of the GBP/USD was stopped by the resistance of the 200-hour simple moving average at 1.2660. The rate made a couple of attempts at passing it before it plummeted down to the 1.2615 mark. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with expectations of 3.1%. According to the official release:
The GBP/USD has broken the resistance of the descending channel pattern, which guided it lower for the most part of May. Although, before surging and breaking the resistance of the pattern the rate reached a new low level by shortly reaching below the 1.2590 level. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in
As expected, the hourly simple moving averages have pushed the GBP/USD into reaching a new low level. Namely, the rate has been pushed into trading between the 1.2620 and 1.2640 levels. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 5
The GBP/USD continues on its way down to the support level at 1.2609. The rate is expected to trade sideways from time to time until the 55 and 100-hour simple moving averages approach and push the rate down. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT.
The previously described technical support levels did not held ground, as it was expected. The GBP/USD has no technical support level as low as the weekly S1 at the 1.2609 level. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost
On Monday morning, in the aftermath of reaching the 1.2740 level the GBP/USD dropped suddenly down to the 1.2680 level. Moreover, it could be observed that, if the 1.2680 does not hold, the rate will have no technical support as low as 1.2609. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release
On Friday morning the GBP/USD touched the upper trend line of the descending channel pattern of the hourly candle chart. The event resulted in a decline, which needed to pass the support of an hourly simple moving average for the rate to drop once more to 1.2600. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK
The decline of the GBP/USD has reached new low level. The 1.2610 level was reached on Thursday. The rate was consolidating after reaching the low level. It was expected that the decline will resume once the 55 and 100-hour simple moving averages approach the pair from above. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK
After the sharp move up and decline on Tuesday, the GBP/USD resumed its decline on Wednesday and reached a new low level. In general, the decline was expected to continue, as the pair had no close by technical support levels. However, take into account that the pair might trade sideways until the release of the FOMC Meeting Minutes at 18:00 GMT. Latest
GBP/USD continued its decline down to the 1.2700 level on Tuesday. However, the decline might have be at its end, as the 1.2700 level provided strong psychological support to the currency exchange rate. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Employment data set release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate
The decline of the GBP/USD continues gradually. The target remains the same – the 1.2720 level is aimed at. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Employment data set release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate lost 6 pips or 0.05% right after the release. The British Pound continued trading
The GBP/USD has continued to decline on Thursday. By the middle of Thursday's London trading session the rate had fallen below the 1.2820 level. From a technical analysis theoretical perspective the rate was expected to decline down to the 1.2720 level, as the closest technical support level was located there. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following