The GBP/USD started the week with a sharp surge, which broke various resistance levels. By the middle of Monday's European trading hours, the pair had reached above the 1.3840 level. In the meantime, the rate's recent surge revealed a channel up pattern. The pattern captures the rate's surge, which has been occurring since March 25. The channel's borders could provide
The support of the 1.3670/1.3675 zone was enough for the currency exchange rate to break the channel down pattern. Moreover, by the middle of Friday's trading, the rate had passed the resistance of the 55 and 100-hour simple moving averages. Economic Calendar Next week, the week will start on Wednesday with the UK Final GDP at 07:00 GMT. The GBP/USD has
The GBP/USD remains in a channel down pattern, which has guided the rate since March 18. However, the decline has not reached a new low level, as the rate appears to have found support in the 1.3670/1.3675 level. In regards to the near term future, the rate was expected to get squeezed in between the mentioned support zone and the
The decline of the GBP/USD has reached below the 1.3700 level. Moreover, the descending channel pattern, which was previously broken has been adjusted. Namely, the upper trend line has been set at the Tuesday's high levels. Economic Calendar On Wednesday, at 13:45 GMT the US Services and Manufacturing PMIs could cause moves from 7.8 to 30.5 pips. On Thursday, the US Final
During the prior weeks, the GBP/USD traded in channel down and channel up patterns that represented the rate's larger scale sideways trading between the 1.3800 and 1.4000 mark. Most recently, the rate was in a channel down pattern that had guided the rate to a support zone near 1.3820. The zone provided enough support for the pair to break the
The support of the 1.3900 level eventually failed to keep the GBP/USD up on Friday. After the support failed, the rate began a decline, which found support in the 1.3820 level. A new support zone of this level and the March 16 low level has been drawn. In addition, a channel down pattern has been spotted. The pattern captures the
The 1.3950 level managed to hold on Thursday. It resulted in a decline to the support of the 1.3900 level. During the morning hours of Friday's European trading hours, the 1.3900 mark continued to provide support. Economic Calendar On Wednesday, at 07:00 GMT the UK Consumer Price Index is scheduled to be published. The release has caused moves from 9.7 to
As the rate was declining and testing the support of the previously broken upper trend line of a channel down pattern, the Federal Reserve beat down the USD by making a monetary policy statement. Namely, the supply of the USD was revealed to remain plenty. It eventually resulted in a GBP/USD surge that reached the 1.4000 mark. The 1.4000 mark
The GBP/USD retraced back up to the 55 and 200-hour simple moving averages and the upper trend line of the channel down pattern. However, during the Asian session, the exchange rate broke the channel pattern and the resistance of the 55 and 200-hour SMAs. On Wednesday morning, the pair confirmed the previous resistance of the channel pattern as support before
The GBP/USD has passed the support of the zone that kept it up since March 10. On Tuesday morning, the pair reached the support of the weekly S1 at 1.3813. In the meantime, it was spotted that the 55-hour SMA and the resistance of the weekly simple pivot point caused the most recent decline, which pushed through the mentioned support
The GBP/USD currency exchange rate began the week's trading by trading between the support of the 200-hour simple moving average and the resistance of the 55-hour simple moving average. Future forecasts were based upon which one of the two SMAs fails to hold. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data. This publication
On Friday, the GBO/USD reached the 1.4000 level, which provided resistance. This resulted in a decline, which tested the support of this week's channel up pattern. Economic Calendar On Tuesday, at 12:30 GMT expect the US Retail Sales and Core Retail Sales data. This publication could cause a move on the GBP/USD from 10.3 to 26.3 base points, as it has
The GBP/USD has passed the resistance of the 200-hour simple moving average. It has resulted in a surge, which on Thursday aimed at the 1.3982 level, where a weekly R1 simple pivot point was located at. Meanwhile, a channel up pattern was spotted, which has guided the rate during this week. Economic Calendar The notable data releases for this pair this week
Since the middle of Tuesday's European trading hours, the GBP/USD has been testing the resistance of the 200-hour simple moving average. By the middle of Wednesday's trading, the SMA had reached the 1.3905 level and another test of resistance was ongoing. Future forecasts were based upon whether or not the SMA's resistance holds. Economic Calendar On Wednesday, the US Consumer Price Index
The GBP/USD broke the resistance of the 1.3870 level and reached the 1.3900 mark. This level started to provide resistance to the currency exchange rate. Near term future scenarios were based upon whether the rate manages to pass the resistance of 1.3900. Economic Calendar On Wednesday, the US Consumer Price Index data could cause a minor move on USD assets at 13:30
The GBP/USD started to recover prior to reaching the support of the February 12 low level at 1.3775. However, the recovery was almost immediately stopped by the resistance of the 1.3870 level. Meanwhile, take into account that the metal was being approached by the resistance of the 55-hour simple moving average. Economic Calendar On Wednesday, the US Consumer Price Index data could
As soon as the 1.4000 mark's resistance was pierced, the rate started to plummet. Namely, a fundamental event caused a drop, which eventually even passed the support of the 1.3830/1.3870 zone. On Friday, the rate was looking for support in the 1.3800 mark. In the meantime, it was spotted that a majority of GBP/USD traders of the Swiss Foreign
The 1.4000 mark held and forced the rate into a decline. It appeared on Thursday, that the rate could end the week by having traded up and down in the 1.3870/1.4000 zone. In the near term future, the rate was expected to look for support in 1.3870. Economic Calendar On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be
The GBP/USD currency exchange rate recovered from the support of the 1.3850 mark and surged to the 1.4000 level. Future forecasts were based upon whether or not the 1.4000 mark hold and reverses the pair's recovery. Economic Calendar On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on the headlines. However, by large, the market does not care,
The GBP/USD reached the support that surrounds the 1.3850 mark and bounced off it. Afterwards, the 55-hour SMA was reached. The near term future, depended on whether the 55-hour SMA manages to push the rate down and through the support of the 1.3850 mark. Economic Calendar On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on the headlines.
The GBP/USD started the week with testing the resistance of the 1.4000 level. In the meantime, there was a cluster of resistance levels located near the 1.4020 level. Future scenarios were depending on whether or not the 1.4000 mark and the resistance levels at 1.4020 hold or not. Economic Calendar On Monday, the US ISM Manufacturing PMI could cause a GBP/USD move
The support of the 200-hour SMA did not hold, as the GBP/USD declined below it on Friday. Moreover, at the start of London trading, the pair had reached the 1.3900 level. Namely, the pair had returned to the February 18 level. In the near term future, the rate was expected to test a support zone that surrounds the 1.3850 mark. Economic
As forecast, the GBP/USD currency exchange rate reached the support of the 55-hour simple moving average. Since the middle of Wednesday's trading hours, the rate has been pushed up by the SMA. By the middle of Thursday's trading, the rate had been pushed above the 1.4170 mark. Economic Calendar This week, the US Preliminary GDP will be published on Thursday at
The surge of the GBP/USD has continued, as at midnight to Wednesday, the rate almost touched the 1.4250 mark. However, by the middle of the day's GMT trading hours, the rate had retreated to the 1.4150 level. In the near term future, the rate was expected to either decline or trade sideways until it would be approached by the 55-hour