The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. All data numbers hit the forecasts. On the GBP/USD charts the event resulted in an attempt to reach the resistance of the 1.2250 mark. However, the pair apparently reversed near 1.2140. Economic
The GBP/USD currency exchange rate remains near 1.2150, as it expects the release of the US Consumer Price Index and the UK GDP data. Economic Calendar This week, the US Consumer Price Index release is set to dictate the short term direction of all financial markets. The data will be published on Thursday at 13:30 GMT. In addition, GBP traders are set
The surge of the GBP/USD, which followed the US employment data release, encountered resistance in the 1.2200 mark. The round exchange rate level held and caused a decline. By mid-Tuesday's trading, the currency pair had reached the support of the 1.2100/1.2115 range. Economic Calendar This week, the US Consumer Price Index release is set to dictate the short term direction of all
On Thursday, the US Dollar strengthened due to better than expected US Unemployment Claims and ADP Non-Farm Employment data. By the middle of Friday's trading, the follow up decline had reached below 1.1850 and was located near the weekly S2 simple pivot point's support at 1.1839. Economic Calendar On Friday, The United States employment data release at 13:30 GMT is highly likely
The GBP/USD pair has managed to recover, as on Wednesday it was encountering resistance in the weekly simple pivot point at 1.2089. Meanwhile, support was found in the 1.2000/1.2025 zone. Economic Calendar On Thursday, the US ADP Non-farm Employment Change might impact the value of the US Dollar at 13:15 GMT. On Friday, The United States employment data release at 13:30 GMT
The opening of the US futures market caused major demand for the US Dollar, which beat down currency exchange rates. The GBP/USD sharply plummeted to the 1.1900 mark, where it found support. By mid-Tuesday it appeared that the weekly S1 simple pivot point and the 1.1940 level were acting as resistance. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI
Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. Economic Calendar This week, on Wednesday, the US ISM Manufacturing PMI and
In general, the GBP/USD respects round levels as support and resistance, but the direction is set by fundamentals. Namely, the US central bank was more hawkish in its policy than the Bank of England, as two members of the BoE policymaking committee voted to keep rates unchanged instead of the 0.50% rate hike. Due to these reasons the GBP/USD is
The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of
The lower than expected US inflation caused a drop of the US Dollar. The GBP/USD surge almost reached the 1.2450 mark, before retracing to find support at 1.2350. At mid-Wednesday the pair had approached and found resistance in the 1.2400 mark. Economic Calendar Later on, the top event of them all will take place. At 19:00 GMT, the US Federal Reserve will
The Monday's decline of the GBP against the US Dollar found support in the 100-hour simple moving average near 1.2220. Afterwards, the rate found resistance in the 1.2300 mark. During the first half of Tuesday's trading, the pair remained below the 1.2300 level. Economic Calendar The US Consumer Price Inflation data is set to be published on Tuesday at 13:30 GMT. The
On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 34 base points or 0.27%. Coincidentally, the event
On Friday morning, the GBP/USD reached above the 1.2250 level, as the recovery of the Pound against the USD continued. Economic Calendar On Friday, at 13:30 GMT the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation is followed
On Thursday, the GBP/USD pair found support in the weekly simple pivot point at 1.2162 and surged to the 1.2250 level. Economic Calendar On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation is followed afterwards by
The weekly simple pivot point at 1.2162 eventually failed to keep the pair up and on Wednesday morning the GBP/USD almost reached the 1.2100 level. However, by mid-day the rate had recovered and reached the 1.2180 level, where resistance was provided by the 50-hour simple moving average. Economic Calendar On Friday, the US Producers Price Index and Core Producers Price Index are
The retracement downwards of the Pound against the US Dollar found support in the weekly simple pivot point at 1.2162. On Tuesday morning, the pair was approached by the 100-hour simple moving average near 1.2180 and it appeared to have started to push the pair up. Economic Calendar On Friday, the US Producers Price Index and Core Producers Price Index are set
The release of the US employment data caused a drop of the GBP/USD down below 1.2150. However, three hours later, the pair had recovered back to 1.2300. On Monday morning, the pair moved above 1.2300 and approached the 1.2350 mark, before a retracement downwards started. Economic Calendar On Monday at 15:00, the US ISM Services Purchasing Managers Index might impact the US
The publication of the Core PCE Price Index has caused a decline of the US Dollar, which is boosting the financial markets and peer currencies. On the GBP/USD charts it has resulted in a test of the 1.2300 mark. The Core PCE Price Index is the main measure that the US Federal Reserve has admitted to be using to in determining
On Wednesday, the GBP/USD reacted to fundamentals. In general, the pair initially reached below the 1.1940/1.1960 zone, before finding support in the 1.1900 mark. Afterwards, comments made by the head of the US Federal Reserve caused a surge of the pair, as the USD lost value. By the middle of Thursday's trading hours, the pair had reached above 1.2100. Economic Calendar On
The 1.1940/1.1960 zone has continued to hold and the GBP/USD remains near the 1.2000 level. Meanwhile, the 50 and 200-hour simple moving averages have revealed that they are not impacting the currency exchange rate. Economic Calendar The day will end with a speech of the US Federal Reserve Chairman Jerome Powell at the Brooking Institution in Washington at 18:30 GMT. On Thursday, note
The GBP/USD currency pair has found support in the zone near 1.1950. This zone has acted as support and resistance since November 16. Economic Calendar Starting with Tuesday, the scheduled fundamental events will start to impact the financial markets. At 15:00 GMT, the CB Consumer Confidence could impact the US Dollar's value. On Wednesday, various US events are expected to cause market moves.
On Thursday, the GBP/USD was eventually stopped an reversed by the 1.2150 level. The decline of the Pound against the US Dollar found support in the 50-hour simple moving average at mid-day on Friday. Economic Calendar This week notable events are over. Next week, starting with Tuesday, the scheduled fundamental events will start to impact the financial markets. At 15:00 GMT, the
The release of the worse than expected US Unemployment Claims and Purchasing Managers Indices caused a decline of the US Dollar during the second part of Wednesday's trading. The fundamental push was enough to cause a surge of the GBP/USD above the resistance zone near 1.1950. Economic Calendar This week notable events are over. Next week, starting with Tuesday, the scheduled fundamental
The combination of the 50 and 100-hour simple moving averages together with the weekly simple pivot point failed to hold. The levels were passed and started to act as support. During the first part of Wednesday's European trading hours, the GBP/USD was approaching the resistance zone near 1.1950, as the weekly simple pivot point provided support at 1.1876. Economic Calendar On Wednesday,