As the 55-hour SMA approached the rate from the upside, the support levels near 1.2920 were passed. The rate is continuing to move downwards. The next target for the decline is the 62.30% Fibonacci retracement level at the 1.2865 level. Meanwhile, note that the rate might wait up for the 55-hour simple moving average to catch up and continue to push the
The GBP/USD has reached even lower than previously expected. Instead of touching the 1.2945 mark, the currency rate has reached as low as the monthly pivot point at 1.2925. The decline occurred in a sharp drop during a period of a couple of hours. Meanwhile, by the middle of Wednesday's trading the pair was signalling that it might recover back up to
The GBP/USD has reached the target set yesterday. However, there is an issue. As the GBP has already done in the recent history, the rate suddenly increased volatility to the opposite side by jumping in this case before reaching the target. Meanwhile, on Tuesday it was observable that the rate has no technical support as low as the 1.2945 level. That level
On Monday, the GBP/USD was declining. It faced no technical support as low as the 1.3020 mark. Moreover, the pair was set to be pushed lower the three simple moving averages that are used in technical analysis by Dukascopy Analytics. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index and Unemployment Rate release on
The resistance of a dominant pattern and the 200-day simple moving average has been broken. The rate is surging higher. Namely, on Friday, the 1.3150 level was almost touched. In general, the pair was still mostly guided by various fundamental Brexit announcements. Note that there will be a follow up article to the previous Brexit articles. There was no publication immediately after
The GBP/USD has extended its surge to the 1.3100 level. Moreover, technical charts indicated that, if the rate passes the 1.3100 level, it would reach for 1.3180. Namely, the rate would pass the resistance of a dominant pattern and the 200-day simple moving average. Afterwards it would reach for the weekly R2 at 1.3180. Read More: Dukascopy Analytics Articles Latest Fundamental Event The British
On Wednesday morning the GBP/USD had retraced back up to the resistance line near the 1.3000 level. This surge exceeded the expectations of Dukascopy Analytics. In general, one should watch the 1.3000 level. If the rate surges above it, the 1.3030 will be aimed at. On the other hand a descent back down to 1.2910 might occur. Read More: Dukascopy Analytics
On Tuesday morning the GBP/USD was making attempt to surge above a resistance level near the 1.2910 mark. If that level would be broken, the rate could surge, in accordance with the technical charts, as high as the 1.2980 level. Read More: Dukascopy Analytics Articles Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data released on
The GBP/USD has broken a cluster of strong technical resistance levels at the 1.2900 level. The break out resulted in a quick jump to the 1.3000 mark. Afterwards, the 1.3000 level managed to force a retreat of the rate back down to the levels just above the 1.2900 mark. For a future outlook look at the technical analysis sections below. Read More:
The GBP was not influenced by the political events of Wednesday, as it has continued to trade sideways below the 1.2900 level. Meanwhile, for technical trades it should be more notable that the GBP/USD rate was making an attempt to pass a strong resistance cluster from 1.2900 to the 1.2910 level. Read More: Dukascopy Analytics Articles Latest Fundamental Event The British Pound depreciated against
The fail of Theresa May to secure the votes for her Brexit deal has caused an increase of volatility, which caused a short lived drop of the GBP/USD. However, the rate returned to where it was previously, as the vote results were no surprise for the financial markets. Namely, the volatility was caused because of short term speculators selling on the
By the middle of Tuesday's London trading session, the Brexit vote at the UK Parliament had not occurred. In the meantime, one can look at the technical outlook prior to the vote. In addition, Dukascopy Analytics have published another article explaining the Brexit situation. In general, the article lays out the possible outcomes of the vote. Read More: Dukascopy Analytics Articles Latest Fundamental
The GBP/USD traders are waiting for the UK's Parliament vote on the Brexit deal that Theresa May has arranged with the EU. The time of the vote has not been established, as there will be a debate prior to the vote. Meanwhile, you can read up more on the event in the article section of Dukascopy Bank SA. Read More: Dukascopy Analytics
The GBP/USD has jumped due to another Brexit fundamental. Namely, Brexit financers revealed to Reuters that the UK will most likely reverse the Brexit decision. The country can do that on its own. It was ruled by the European Union's highest court a couple of months ago that the United Kingdom has the right to drop the Brexit and remain in
As the GBP/USD trades horizontally in the expectations of the Brexit vote, it has pierced the upper trend line of a dominant descending pattern.
A larger pattern has been spotted on the GBP/USD charts.
The 1.2800 mark has been reached, as it was forecast previously.
The GBP/USD pair's surge on Monday was expected to reach the 1.2800 level
The first daily review of the GBP/USD of the year has already managed to forecast the decline of the rate.
Dukascopy Analytics will be off for the next week. Although, we leave for the week for our readers a medium term guide.
By the middle of the day the GBP/USD was surging due to USD weakness caused by the Federal Reserve.
The volatility of the GBP/USD is still high. During the recent swing upwards the rate reached to the 1.2700 level, from which it bounced off.
The previous squeeze of the GBP/USD has ended with a surge upwards.
The GBP/USD started the week calmly, as the rate traded near the 1.26 mark.