On Tuesday morning, the GBP/USD bounced off a supporting trend line and surged up to the 1.2350 level. By doing this, the currency exchange rate revealed a channel down pattern. Meanwhile, the rate managed to pass the resistance of the 55, 100 and 200-hour simple moving averages and the simple weekly pivot point. Economic Calendar As it occurred during the
On Monday morning, the GBP/USD tested a strong resistance cluster, which was located from 1.2311 to 1.2356. In regards to the near term future, the pair had a couple of possible scenarios. Economic Calendar As it occurred during the last week, due to the fundamental changes in the markets, Dukascopy Analytics suggest to note the scheduled macroeconomic events, but avoid
On Friday, the GBP/USD plummeted, as it passed the support of a monthly pivot point at 1.2345 and a 50.00% Fibonacci retracement level at 1.2311. The rate had no technical support as low as the 1.2200 level, where it could meet with the 200-hour simple moving average. Economic Calendar As it occurred during the last week, due to the fundamental
Since the middle of Wednesday's GMT trading hours, the GBP/USD currency exchange rate has trade sideways near the 1.2400 level. By the middle of Thursday's trading, the rate was approached by the support of the 55 and 100-hour simple moving averages, which, in theory, should push the pair up. Economic Calendar This week, data can be ignored, as the fundamental
On Tuesday, the GBP/USD fulfilled one of the previously described scenarios, as it broke the resistance of the 55-hour simple moving average and reached for the resistance of the 1.2450 level. Afterwards, the rate bounced off this level. On Wednesday, the rate had declined to the support of the new simple monthly pivot point at 1.2345. In addition, the
On Tuesday, the currency exchange rate traded between the support of the 1.2300 level and the resistance of the 55-hour SMA, which was moving up near the 1.2360 mark. The rate had two possible near term future scenarios, as it could both pass the mentioned support and break the resistance of the simple moving average. Economic Calendar This week, data
As expected on Friday, the GBP/USD passed the resistance of the 1.2300 level. Moreover, on Friday, the rate approached the resistance of the 1.2500 mark. On Monday, the rate had retreated, as it consolidated its previous gains. Economic Calendar This week, data can be ignored, as the fundamental background is changed in a way that historical data does not matter. However,
On Friday, the GBP/USD was testing the resistance of the 1.2300 level while being supported by the 1.2150. Meanwhile, the rate ignored pivot points, as round price levels were impacting the currency exchange rate. In regards to the future, the rate was expected to surge, as soon as the 55-hour simple moving average catches up with the GBP/USD. UK
As expected, the GBP/USD looked for support in the 55 and 100-hour SMAs, which caused a rates surge. By the middle of Thursday's GMT trading hours, the currency exchange rate was already testing the 1.2000 level. In the meantime, the 1.2000 level's resistance was strengthened by the upper trend line of a rising wedge pattern. Economic Calendar The week will
On Wednesday morning, the weekly PP at 1.1838 and the 200-hour SMA at 1.1896 were pierced. However, after shortly trading above the 1.1950 level, the GBP/USD declined below the mentioned technical levels. It was possible that the rate would reach for the combined support of the 55 and 100-hour simple moving averages. Economic Calendar On Thursday, March 26, the UK
On Tuesday, the GBP/USD currency exchange rate was recovering, as it headed to the resistance of the weekly pivot point at the 1.1838 level. The rate was expected to reach this level and trade below it until the additional support of the hourly simple moving averages pushes the rate through the pivot point. Economic Calendar This week, there are couple
The GBP/USD exchange rate remains above the psychological level at 1.1500. Also, the rate failed to surpass the 100-hour SMA. During Monday morning, the rate was trading below the 55-hour SMA. The given moving average could push the rate down. Economic Calendar This week, there are couple of events that could affect the GBP/USD rate. On Wednesday, March 25,
During Friday morning, the GBP/USD exchange rate was testing the 100-hour SMA near 1.1890. If the given resistance holds, some downside potential could prevail. Economic Calendar This week, there are no events left that could impact on the GBP/USD rate. Next week, there are couple of events that could affect the GBP/USD rate. On Wednesday, March 25, the UK CPI data
During Thursday morning, the GBP/USD exchange rate was consolidating near the weekly S2 at 1.1642. Given that the rate is pressured by the 55-hour SMA, it is likely that some downside potential could prevail. Economic Calendar This week, there are no events left that could impact on the GBP/USD rate. Meanwhile, Dukascopy Analytics are not publishing the historical reactions this
During Wednesday morning, the GBP/USD exchange rate was testing the weekly S1 at 1.1977. Given that the rate is pressured by the 55-hour SMA, it is likely that some downside potential could prevail. Economic Calendar This week, there are no events left that could impact on the GBP/USD rate. Meanwhile, Dukascopy Analytics are not publishing the historical reactions this week,
Yesterday, the GBP/USD exchange rate dropped below 1.2300. During Tuesday morning, the rate was testing the support level – the monthly S3 at 1.2178. Economic Calendar Today, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the week is set to occur, as at 20:00 GMT the FOMC Statement
The GBP/USD has continued to drop, as the currency exchange rate reached the 1.2300 level. However, on Monday the pair began to trade sideways, as it had become oversold and needed a period of consolidation. Economic Calendar On Tuesday, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the week
On Friday, the GBP/USD traded near the 1.2600 level, as it was trading between the support levels near 1.2500 and the resistances near 1.2635. Previously, our analysts expected that the rate would decline to the 1.2600 level. In regards to the near term future, read below. Economic Calendar Next week, on Tuesday, the US Retail Sales could cause a small move
The decline of the GBP/USD has continued, as the currency exchange rate has reached below the 1.2700 level. In the near term future, the pair was expected to reach for the support of a pivot point near 1.2635. Bank of England Rate Cut The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release
The GBP/USD dropped on Tuesday, as the Bank of England unexpectedly cut interest rates. By the middle of Wednesday's London trading hours, the currency exchange rate had shortly touched the 1.2850 mark. Bank of England Rate Cut The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Wednesday at 07:00 GMT. The
On Tuesday, the GBP/USD currency exchange rate passed the support of the 55-hour simple moving average. By the middle of the days GMT trading hours, the pair had no support as low as the 1.3000 mark. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the British GDP and Manufacturing
The GBP/USD pair has reached the 1.3200 level, which provided resistance. On Monday, the currency exchange rate traded near the 1.3100 level, where it had retreated as a part of a consolidation, which was caused by the previous sharp surge. Economic Calendar During the week, there will be couple events that could affect the GBP/USD rate. On Wednesday, March 11, the
During Friday morning, the GBP/USD exchange rate surpassed the weekly R1 at 1.2985. It is likely that bulls could prevail in the market in the short term, and the rate could remain above 1.3000. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of 1.00% to 1.25% at an unscheduled emergency
During Thursday morning, the GBP/USD exchange rate jumped was testing the resistance level formed by the Fibonacci 38.20% retracement and the monthly PP at 1.2920. If the given resistance does not hold, some upside potential could prevail in the market. Fed Rate Cut The Federal Open Market Committee cut the Federal Funds Rate to a target range of