As any other USD currency exchange rate, the GBP/USD started a sharp decline at midnight, as the US Presidential Election polls closed. The decline reached the 1.2920 level, from where a recovery started. By the middle of Wednesday's GMT trading hours, the rate had reached the 1.3000 level. Economic Calendar On the day after the US Election, on Wednesday, the US ISM
At midnight to Tuesday, the GBP/USD currency exchange rate broke the channel down pattern and surged. By the middle of the day's trading hours, the pair was testing the 1.3000 mark, which was strengthened by the 200-hour simple moving average. Future scenarios were based whether or not this level is passed. Economic Calendar US Elections on Tuesday are bound to take away
At the end of last week, the GBP/USD traded with high volatility, as it dropped below 1.2860 and returned to the 1.2910 level. This week, the rate began by trading above the support of the monthly simple pivot point at 1.2898 and below the resistance of the 55-hour SMA. Economic Calendar US Elections on Tuesday are bound to take away all attention
The technical levels at 1.3030 held and caused the GBP/USD rate's decline to the 1.2900 mark. On Friday morning, the currency exchange rate found support in 1.2900 and began a surge. Economic Calendar Next week, US Elections on Tuesday are bound to take away all attention from the macroeconomic data releases. However, there are things to note. On Monday, the US ISM Manufacturing
The Wednesday drop of the GBP/USD touched the 1.2920 level. Afterwards, the rate began a recovery. On Thursday morning, the currency exchange rate was testing the cluster of technical resistance levels at 1.3030. Economic Calendar On Thursday, at 12:30 GMT two events will be released that the financial media will talk about. However, recently both of them have not caused notable moves. The
By the middle of Wednesday's GMT trading hours, the GBP/USD currency exchange rate had passed the support of the 1.3000 mark. In addition, the currency pair broke out of the channel up pattern that had guided the rate since late September. In regards to the near term future, the pair had no technical support as low as the weekly S1
On Tuesday, the GBP/USD was squeezed in between the resistance of the 55-hour simple moving average and the support of the 200-hour SMA. As the 55-hour SMA was pressuring the rate from above, a classic squeeze was expected. Namely, the rate would decrease its volatility, as the SMAs approach one another, which would then result in a sudden sharp move
On Monday, the GBP/USD currency exchange rate declined and touched the support of the 1.3000 level. This level provided support and kept the pair from reaching the lower trend line of a channel up pattern. In the meantime, note that the 55-hour simple moving average was providing effective resistance to the currency pair. Economic Calendar On Tuesday, the US Durable Goods Orders
The decline of the GBP/USD ended at the 1.3050 mark, as the rate found support at this level on Friday morning. By 08:30 GMT, the rate's surge had passed the resistance of the 55-hour simple moving average and had no resistance. Due to that reason, the rate could reach back up to the 1.3176 level, where the weekly R2 simple
Wednesday's surge ended at the weekly R2 simple pivot point at 1.3176. The GBP/USD touched this level and began a decline. On Thursday morning, the currency exchange rate had declined to the 1.3100 level and had no technical support as low as 1.3050. UK CPI Caused a Surge The British Pound appreciated against the US Dollar, following the UK CPI data
The GBP/USD broke the wedge pattern in a major sharp fundamental move that was caused by the release of the UK Consumer Price Index. By the middle of Wednesday's European trading hours, the GBP/USD currency pair was trading in limbo around the weekly R1 simple pivot point in the range from 1.3040 to 1.3060. The British Pound appreciated against the US
As expected, the GBP/USD traded the resistance of the monthly pivot point at 1.3028. The pair did not manage to pass this resistance and declined back to the 1.2920 level. In the meantime, the recent bounce off from resistance revealed a new pattern on the hourly candle chart. Economic Calendar On Wednesday, at 06:00 GMT the UK Consumer Price Index release could
On Monday morning, the GBP/USD broke the resistance levels that were located from 1.2940 to 1.2960. This resulted in a sharp surge that by 09:00 GMT managed to reach above the 1.3000 mark. In the near term future, the rate was expected to test the monthly pivot point at 1.3028 and the weekly R1 pivot point at 1.3049. Economic Calendar On
On Friday morning, the GBP/USD was heading for the resistance of the 55 and 200-hour simple moving averages that were located above the 1.2950 mark. In the near term future, the rate was expected to test these technical levels. Economic Calendar On Friday, the US Retail Sales data is capable of causing slight increases of above normal volatility. However, in most cases
In the aftermath of Wednesday's sharp surge, the GBP/USD began a retracement back down. By the middle of Thursday's GMT trading hours, the rate had reached the 1.2940 level. On Wednesday, October 14, the British Pound extended gains against the US Dollar. The GBP/USD exchange rate gained 1.39%. It is likely that the Pound has been appreciating, as the
On Wednesday, it was announced that the Prime Minister of the United Kingdom Boris Johnson would prolong the deadline of the UK and EU trade talks. The announcement caused a 150 pip surge. A detailed report was set to be published in the Expert Commentary section. Economic Calendar On Thursday, the weekly US Unemployment Claims will be out at 12:30 GMT.
On Monday morning, the GBP/USD bounced off the resistance of the channel up pattern and passed the support of the monthly pivot point at 1.3028. In the near term future, the pair was expected to reach for the support of the weekly simple pivot point and the 55-hour simple moving average near 1.2980. Economic Calendar The week's notable events are set to
The speech of the Governor of the Bank of England Bailey on Thursday morning caused a decline of the GBP/USD. However, the decline was stopped by the lower trend line of the channel up pattern and a pivot point at 1.2890. On Friday morning, the rate had returned to the 1.2960 level and once again had no resistance as high
Despite piercing the lower trend line of a channel up pattern on Wednesday, the rate managed to find support at 1.2850 and surge. During Thursday's European morning trading hours, the currency exchange rate had passed the resistance of two SMAs and was surging above the 1.2950 level. Economic Calendar On Thursday, as always the US Unemployment Claims at 12:30 GMT might cause
The main update in regards to the GBP/USD was the reveal of a channel up pattern, which has guided the rate since the end of September. In the meantime, note that the rate was being impacted by the hourly simple moving averages. Economic Calendar On Wednesday, note that some calendars show the FOMC Meeting Minutes at 18:00 GMT. This is a publication
The surge of the GBP/USD encountered the resistance of the 1.3000 level. On Tuesday morning, the rate bounced off this level and retreated to 1.2960. In the near term future, the pair was expected to be approached by the additional support of the 55 and 100-hour simple moving averages, which could cause a surge. Economic Calendar On Wednesday, note that some calendars
On Monday, the GBP/USD currency exchange rate traded in the 1.2900 and 1.2960 range. In the meantime, the pair was being approached by the additional support of the 55 and 100-hour simple moving averages. In the near term future, the rate was expected to surge, as it had no technical resistance as high as 1.3030. Economic Calendar Pay attention to the economic
The GBP/USD is breaking patterns and trading with high volatility. Swings of 100 pips down and up are normal. The reason for the moves are Brexit negotiation news. Namely, the EU and UK have failed to negotiate a trade deal and a hard Brexit scenario is once again highly likely. Economic Calendar The week will end with a monthly data release.
On Thursday morning, the GBP/USD currency exchange rate plummeted, as it was announced that the EU and UK trade negotiators had failed to make a deal. At 09:00 GMT, the currency exchange rate was heading to the combined support of the 200-hour SMA and a weekly simple pivot point at 1.2800. Economic Calendar On Thursday, as always the US Unemployment Claims at