On Tuesday morning, the GBP/USD reached the weekly R1 simple pivot point at 1.4092 and by the middle of the day, it began to pierce through it. In the case of the pivot point failing, the rate could reach for the weekly R2 pivot point at 1.4168. However, the 1.4100 and 1.4150 exchange rate levels might provide resistance. Economic Calendar This week,
On Monday, the GBP/USD moved above the 1.4050 mark, as the rate appeared to be pushed up by the support of the hourly simple moving averages. A potential target for the pair's surge was the weekly R1 simple pivot point, which was located at the 1.4092 mark. Economic Calendar This week, the US Preliminary GDP will be published on Thursday at 13:30
The GBP/USD has extended its surge beyond initial expectations, as the currency exchange rate reached above the 1.4000 mark during early hours. Moreover, the currency exchange rate no longer had any technical resistance as high as the 1.4110 level. Economic Calendar The week will end for the GBP/USD with the US PMIs at 14:45 GMT. The release could cause a move from
The squeeze of the GBP/USD between the 55 and 100-hour SMAs ended with a break out to the bottom. However, it was immediately stopped by the support of the 200-hour SMA. The 200-hour SAM provided enough support on Thursday morning for the rate to surge up above the 55 and 100-hour SMAs and the weekly R1 simple pivot point. Economic Calendar On
During the first half of Wednesday's trading, the GBP/USD currency exchange rate fluctuated between the support of the 100-hour simple moving average and the resistance of the 55-hour SMA. The near term future was dependant on which one of the two simple moving averages breaks first. Economic Calendar On Wednesday, at 13:30 GMT, the US Retail Sales and Core Retail Sales could
On Tuesday, the GBP/USD broke the resistance of the weekly R1 simple pivot point at 1.3923. Afterwards, the pair touched the 1.3950 mark before beginning a consolidation by retracing back down. In the near term future, the currency exchange rate could look for support in the 55 and 100-hour simple moving averages. Economic Calendar The week is expected to have a lot
The GBP/USD has started the week by surging above the 1.3900 level. The rate had found support for a surge in the 1.3780 level. At mid-day on Monday, the currency exchange rate was expected to test the weekly R1 simple pivot point at 1.3923. Economic Calendar The week is expected to have a lot of data releases, which could impact the currency
The hourly simple moving averages failed to provide the GBP/USD with support that would force it to once again test the 1.3860 level. Instead, by the middle of Friday's trading hours, the rate had retreated to the 1.3780 mark. In theory, due to not having any close by technical support, the rate should continue to decline as low as 1.3740. Economic
The 1.3860 level provided the GBP/USD with resistance and caused a retracement down to the 1.3810 level. At that level the currency exchange rate found support in the 55-hour simple moving average. In the near term future, the currency exchange rate was expected to be pushed up by the SMA into another test of the 1.3860 mark. Economic Calendar On Thursday, at
The surge of the GBP/USD has continued, as on Wednesday the rate reached above the 1.3850 mark. In the near term future, the surge of the pair was expected to reach the weekly R2 simple pivot point at 1.3879. Economic Calendar On Thursday, at 13:30 GMT the US weekly Unemployment Claims will be published. The GBP/USD has recently moved from 8.7 to
On Friday morning, the GBP/USD passed the resistance of the 1.3700 mark and the weekly simple pivot point at 1.3694. The rate had shown that it could sure. However, it would face the resistance of previous high levels before reaching the technical resistance of the weekly R1 simple pivot point at 1.3779. Economic Calendar The week will end with the US
On Thursday, technical levels were broken, as the rules were dictated by the Bank of England making a policy statement. In general, no changes in the next six months in the policy, as the bank is not ready to go into zero rates. The event caused a surge of almost 130 base points or 0.95%. Economic Calendar The week will end
On Tuesday, after reaching the 1.3620 level, the GBP/USD recovered. The recovery ended on Wednesday, as the rate reached the resistance of the 55-hour SMA. By the middle of the day's GMT trading hours, the pair had bounced off the SMA and declined. Economic Calendar On Wednesday, the US ISM Non-Manufacturing PMI could cause a move from 11.8 to 38.4 pips. At
The combined resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point have forced the GBP/USD outside the borders of the rising wedge pattern. However, the breaking of the pattern's supporting trend line did not result in a sharp move down. Economic Calendar On Wednesday, the US ISM Non-Manufacturing PMI could cause a move from
The GBP/USD has continued to respect the resistance zone of the 1.3740/1.3760 levels. On Monday, the rate had retreated from the resistance zone and approached the lower trend line of the rising wedge pattern. The near term future was dependant on whether or not the trend line holds. Economic Calendar On Monday, the US ISM Manufacturing PMI at 15:00 GMT could cause
The GBP/USD bounced off the support of the rising wedge pattern and surged to the 1.3745 level. The rate bounced off the resistance of this level and declined. By the middle of Friday's GMT trading hours, he rate had almost declined back to the support line. Economic Calendar Next week, on Monday, the US ISM Manufacturing PMI at 15:00 GMT
The GBP/USD has once again retreated to the lower trend line of the ascending wedge pattern. This time, the trend line was reached near the 1.3640 mark. The future scenarios depended on whether or not the trend line holds. Economic Calendar On Thursday, January 28, the US Advance GDP data is set to be released at 13:30 GMT. Also, the US Unemployment
On Wednesday morning, the GBP/USD currency exchange rate traded in the range between the 1.3720 and 1.3760 levels. In the near term future, the currency pair had more than a couple of possible future scenarios. Economic Calendar On Wednesday, January 27, the Federal Reserve is going to unveil its monetary policy plans by publishing the FOMC Statement at 19:00 GMT. On Thursday,
The GBP/USD eventually reached the lower trend line of the rising wedge pattern. The trend line provided enough support for a sharp surge to occur. By the middle of Tuesday's trading, the rate had reached the 1.3700 mark. In the near term future, the rate was expected to test the resistance of the 1.3720 mark and afterwards the 1.3740 level. Economic
On Monday, the GBP/USD started the week's trading by being impacted by the hourly simple moving averages. In addition, the rate respected the resistance of the 1.3720 round exchange rate level. At mid-day, the near term future was dependant on whether or not the support of the 100-hour simple moving average pushes the rate up. Economic Calendar Most of notable events are
The GBP/USD exchange rate continues to follow the rising wedge pattern. From a theoretical perspective, the rate could re-test the lower pattern line and continue to move within the given pattern. Economic Calendar The Friday will end with the US Manufacturing and Services PMIs at 14:45 GMT. The GBP/USD has moved from 7.8 to 35.5 pips on the release. The next week is
During Thursday morning hours, the GBP/USD exchange rate has been testing the upper line of the rising wedge pattern. From a theoretical point of view, some downside potential could prevail. Economic Calendar On Thursday, at 13:30 GMT, a minor move could be caused by the weekly US Unemployment Claims. This event has caused GBP/USD moves from 8.8 to 45.7 pips since December
At mid-day on Wednesday, the GBP/USD broke the resistance of the 1.3700 level. However, it did not result in a sudden sharp surge, as the rate was slowed down by the resistance of the weekly R1 simple pivot point at 1.3717. The near term future was based upon whether the weekly R1 provides enough resistance to keep the rate down. Economic
By the middle of Tuesday's GMT trading, the GBP/USD had recovered to the 1.3625 level, where the pair encountered the resistance of the 100-hour simple moving average. In the near term future, it appeared that the pair could get squeezed in between the resistance of the 100-hour SMA and the support of the 55 and 200-hour SMAs. Economic Calendar This week, UK