The GBP/USD did not find support in technical resistance levels above the 1.3600 level. By the middle of Monday's GMT trading hours, the rate had touched the 1.3520 level. In the near term future, the pair was expected to continue to decline after a short consolidation. Economic Calendar This week, UK data releases start on Wednesday at 07:00 GMT. At that time,
During the late hours of Thursday's trading, the GBP/USD made another failed attempt to pass the resistance of the 1.3700 level. The pair bounced off the resistance and by the middle of Friday's trading the rate passed the support of the 55-hour simple moving average. In the near term future, the rate was expected to look for support in technical
The bounce off and decline from the 1.3700 level eventually found support in the 55-hour simple moving average. During the first half of Thursday's trading, the currency exchange rate was being pushed up by the SMA. Meanwhile, it was spotted that the weekly R1 simple pivot point managed to provide the rate with resistance, as it reversed an attempt to
The GBP/USD broke the channel down pattern and reached the 1.3700 level. By the middle of Wednesday's GMT trading hours, the rate had bounced off this level's resistance. In theory, the currency pair was expected to reach for the support of the weekly simple pivot point and the 200-hour simple moving average at the 1.3600 level. Economic Calendar During the week there
The GBP/USD found support in the 1.3450 level on Monday. This level provided enough strength for the rate to start a surge, which by the middle of Tuesday's GMT trading hours had reached the 1.3600 level. Meanwhile, a channel down pattern was spotted on the hourly candle chart. The pattern has been guiding the rate since the start of this
The GBP/USD ended trading in a triangle pattern by breaking out downwards. By the middle of Monday's GMT trading, the currency exchange rate had declined below the 1.3500 mark. By declining below the 1.3500 level, the rate had passed the last technical support. Namely, the most close by technical support was the weekly S2 simple pivot point at 1.3433. Economic Calendar During
The support of the triangle pattern held out. On Friday morning, the currency exchange rate surged. By the middle of the day's GMT trading hours, the rate had reached the 1.3600 level. In the meantime, the rate was being squeezed in between the resistance of the 100-hour SMA and the support of the 200-hour SMA. Economic Calendar The week will end with
During Wednesday's trading, the GBP/USD fluctuated between the 1.3550 and 1.3660 levels. By doing so, the currency exchange rate revealed a descending triangle pattern. In theory, the rate could remain in this pattern until January 12. In the meantime, the rate is being impacted by the hourly simple moving averages that are located in the borders of the triangle. Economic Calendar On
The GBP/USD ended trading sideways and surged. By the middle of Wednesday's GMT trading hours, the currency exchange rate had reached the 1.3660 level. During the surge, the rate passed the resistance of the 55 and 100-hour SMAs and no longer had technical resistance. Due to that reason, the pair could test the round exchange rate level of 1.3700. Economic Calendar On
The resistance of a rising wedge held and caused a decline, which broke the pattern. Namely, a sharp move of almost 150 base points reached the 1.3550 level. On Tuesday, the GBP/USD currency exchange rate traded in limbo between the 1.3555 and 1.3615 levels. Economic Calendar The first week of the year is bound to have notable data releases. The top among
The GBP/USD currency exchange rate started the year just below the resistance of the 1.3700 level. This level was reached as a result of the surge, which started as the rate broke a resistance zone near 1.3625 on Thursday. In regards to the future, the rate was testing the 1.3700 level. Future scenarios were based upon whether or not the
At midnight to Wednesday, the GBP/USD broke the resistance of the 55 and 100-hour simple moving averages and began a surge. By the middle of the day's GMT trading hours, the rate found resistance in the 1.3615 mark. At this level the resistance zone of the December high levels was located at. The future scenarios depended on what would happen
The GBP/USD currency exchange rate declined below the support of the 100 and 200-hour SMAs, the weekly simple pivot point, a lower trend line of a channel down pattern and a 61.80% Fibonacci retracement level. By the middle of Tuesday's GMT trading hours, the rate had returned to trade near the 1.3500 level. Due to that reason, it could
On Monday morning, the GBP/USD passed the support of the channel up patter, which captures the rate's surge that has been ongoing since December 21. By the middle of the day's European trading hours, the rate had found support in the 100 and 200-hour SMAs and revealed a small size channel down pattern. Economic Calendar On Thursday, at 13:30 GMT, the US
On Wednesday, the recent low and high levels that were caused by EU and UK trade talks were used to set Fibonacci retracement levels. In the meantime, it was spotted that this week the rate has been trading in a wide channel up pattern. In the near term future, the rate was expected to trade sideways, as it faced strong
Since Monday morning, the GBP/USD had recovered, as the rate reached back up to trade in the 1.3400/1.3500 zone. Previously, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its position on trade with the EU. Moreover, the minister of health announced a new strain
The GBP/USD started the week with a gap down and a following decline to the 1.3200 level. The move was attributed to the UK and EU failing to negotiate trade and troubles with the coronavirus. Namely, over the weekend there were statements made by one of the UK Ministers, which signalled that the UK would not back down from its
During Friday morning hours, the GBP/USD exchange rate declined to the support provided by the 100-hour SMA near 1.3470. The rate could reverse north and re-test the resistance level formed by the weekly R2 at 1.3626. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency
During Thursday's trading, the GBP/USD reached the high level of 1.3625, where it encountered the resistance of a weekly R2 simple pivot point. As the rate reached the pivot point, the Bank of England made a rate statement and a monetary policy summary. The British Pound depreciated against the US Dollar, following the BOE Monetary Policy Summary release on Thursday
The GBP/USD currency exchange rate has reached a new 2020 high level, as on Wednesday the rate passed the 1.3520 mark. This event is signalling that the rate could reach new highs. However, at mid-day on Wednesday, the rate bounced off the resistance of the 1.3550 level. Economic Calendar On Wednesday, the day would end with the top event of the
The rate failed to pass the resistance of the 1.3450 level on Monday. This resulted in a decline to the support of the weekly simple pivot point at 1.3283, which caused a surge on Tuesday. By the middle of the day's European trading hours, the surge was heading to the resistance of the 1.3400 mark, weekly R1 pivot point at
The GBP/USD started the week with a gap up and a surge. By the middle of the day's European trading hours, the currency exchange rate was testing the combined resistance of a weekly R1 simple pivot point at 1.3431 and the psychological resistance of the 1.3450 mark. In the meantime, news about the UK-EU trade talks continues to impact the
On Friday morning, the GBP/USD currency exchange rate plummeted 188 pips or 1.41%. The drop was attributed to the President of the European Commission Ursula von der Leyen announcing to the European Summit that a no-deal Brexit is currently the most likely scenario. In the meantime, UK officials stated that a no-deal Brexit would be a "choppy" road. Moreover, the Governor of
On Thursday, the GBP/USD reached the support of the 1.3250 mark, which held the rate up on Monday and caused a surge to the 1.3400 mark. During the second half of Thursday's European trading hours, the rate tested the support of the 1.3250 mark. Future forecasts were based upon whether or not the support holds. Economic Calendar On Thursday, the US CPI