The recovery of the Pound against the US Dollar continues on, as on Wednesday morning the rate reached above the 1.1600 mark. Economic Calendar On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and the follow up press conference. The publication of the rate and monetary policy statement is scheduled for 12:15 GMT. The
On Monday, the GBP/USD was facing the resistance of the 1.1400 level and the support of the 1.1300 level. Economic Calendar On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to occur from 07:15 up to 08:00 GMT. The UK data will be out at 08:30 GMT. US results will be published
As the UK Prime Minister resigned, the Pound initially surged and reached above 1.1300. However, the spike upwards was followed by a decline. By the middle of Friday's trading, the pair had almost reached the 1.1100 mark. Economic Calendar On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to occur from 07:15
The decline of the Pound against the US Dollar has continued, as on Thursday morning the pair approached the 1.1150 level and the weekly simple pivot point at 1.1160. Economic Calendar This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal
The GBP/USD pair reached below the support of the channel up pattern, which afterwards turned into resistance. Once the pair approached the combined resistance of the 1.1350 level and the trend line, a decline started. At 06:00 GMT the decline increased due to the publication of the UK Consumer Price Index. It was revealed that year-on-year basis inflation in September
On Thursday, the GBP/USD currency pair reached above the 1.1400 mark and almost reached the 1.1450 level. However, before reaching the 1.1450 level, the GBP started a decline against the USD. During the early hours of Tuesday's trading, the pair as finding support in the 1.1300 level. Meanwhile, it was spotted that the rate has been surging in a channel
The Friday's decline of the GBP/USD pair found support in the 1.1150 level. By the start of Monday's European trading, the rate had recovered to the 1.1300 mark. Economic Calendar This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve
The GBP/USD currency exchange rate eventually surged after the US CPI release. The surge found resistance in the 1.1350/1.1375 zone, before starting a decline on Friday's morning. Economic Calendar On Friday, at 12:30 GMT, the US Retail Sales data could also impact the financial markets. GBP/USD short-term view An extension of the ongoing decline could look for support in the combination of the
Prior to the US Consumer Price Index release, the GBP/USD approached the resistance zone at 1.1175/1.1180. Future direction depends on the US CPI at 12:30 GMT. Economic Calendar On Thursday, the top event of the week will take place. The United States Consumer Price Index is scheduled to be published at 12:30 GMT. On Friday, at 12:30 GMT, the US Retail Sales
Announcements made by the Bank of England to pension funds and the broader markets increased the Pounds volatility. On the GBP/USD charts the result was a surge up to 1.1175/1.1180 and a follow up decline down to 1.0920/1.0935. On Wednesday morning, the currency pair had recovered to the combined resistance of the 1.1050 level and the 50-hour simple moving average. Economic Calendar This
The GBP/USD currency pair broke the resistance of the channel down pattern. However, resistance was eventually provided by the 50-hour simple moving average and the 1.1100 mark. The following decline reached the support of the 1.1000 mark. On Tuesday morning, the pair fluctuated between the 1.1000 level and the 50-hour SMA near 1.1075. Economic Calendar This week, the markets are looking forward
The 1.1500 resistance was enough to cause a broad decline of the GBP/USD. By 09:00 GMT on Monday, the pair had reached below 1.1050 and was heading to the 1.1000 level. Economic Calendar This week, the markets are looking forward for the monthly United States inflation and retail sales data. In addition, on Wednesday, the FOMC Meeting Minutes might impact the markets. However,
The decline of the Pound against the US Dollar eventually found support in the 1.1250 level and the 100-hour simple moving average. The combination was enough to cause a surge, which on Thursday morning encountered resistance in the 50-hour SMA near 1.1380. Meanwhile, the 100-hour SMA had approached the 1.1300 mark. Economic Calendar Above all, on Friday, the US Average Hourly Earnings,
The GBP/USD surge extended, as the UK government announced that it would not do its fiscal stimulus, as it was previously announced. The news strengthened the Pound's value. At mid-day on Tuesday, the pair broke the upper trend line of the channel up pattern, the 1.1450 level and the weekly R1 simple pivot point at 1.1483. Economic Calendar On Wednesday, the US
The GBP/USD has managed not only to reach above the 1.1300 level and the resistance of 1.1350, but also shortly trade above 1.1400. During the surge, the pair pierced the upper trend line of the channel up pattern, before retreating to levels near 1.1350. Economic Calendar This week, the rate is expected to move due to the publication of the JOLTS Job
On Monday, the GBP/USD pair was approaching the 1.1300 mark, as the recovery of the Pound against the US Dollar continued. Economic Calendar This week, the rate is expected to move due to the publication of the JOLTS Job Openings on Tuesday at 14:00 GMT. On Wednesday, the US ISM Services PMI is likely going to cause USD moves. The Monday's Manufacturing
The surge of the Pound against the US Dollar appears to have occurred in a wide range channel up pattern. Since late Thursday's European trading hours, the currency pair was testing the resistance of the channel. The resistance line is crossing the 1.1200/1.1250 range. In addition, the resistance line was being strengthened by the weekly R1 simple pivot point and
The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus is
On Wednesday morning, the GBP/USD currency pair found support in the weekly S1 simple pivot point at 1.0637. Meanwhile, it appeared that minor resistance was provided by the 50-hour simple moving average near 1.0740. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome
Since encountering resistance in the form of the 1.0900 level up to mid-Tuesday, the GBP/USD pair had confirmed the weekly S1 simple pivot point at 1.0637 as support and recovered to the combined resistance of the 1.0800 level and the 50-hour simple moving average. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there
At the start of the week, the GBP/USD plummeted due to the release of the UK's fiscal budget plan. The pair has reached low levels that have not been seen since 1985. Moreover, the pair shortly traded below the 1985 low level. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there are
Initially the Federal Reserve Rate hike and press conference caused major volatility, but the resistance of the 1.1350 held. Afterwards, a decline occurred, which reached below 1.1250. However, during the early hours of Thursday's European trading, the currency pair began a recovery and approached the 1.1300 level. Economic Calendar On Thursday, all GBP pairs will adjust to the new UK monetary policy,
At 18:00 GMT, the US Fed will hike interest rates. Depending on the size of the hike, the USD will either surge or decline. The GBP/USD is set to adjust accordingly. Prior to the meeting though, the currency exchange rate passed below the support of the 1.1350 level and confirmed it as resistance. Economic Calendar This week, the top event of them
With the start of Tuesday's GMT trading hours, the GBP/USD pierced the resistance zone at 1.1440/1.1450. However, a surge did not follow, as resistance was found in the 100-hour simple moving average. Meanwhile, the rate was observed to be finding support in the 50-hour simple moving average. Economic Calendar This week, the top event of them all is scheduled for Wednesday. At