During the high volatility caused by Jerome Powell, the GBP/USD fluctuated between 1.2650 and 1.2550. During the event it was shown that the 50-hour simple moving average can act as resistance and the 1.2550 mark acts as support. On Monday, the moving average was keeping the rate down. Economic Calendar This week, on Tuesday the CB Consumer Confidence and JOLTS Job Opening
Despite initially finding support in the 1.2620 level and afterwards surging up to 1.2725, during the second half of Thursday's trading the GBP/USD rate declined. By 18:00 GMT, the pair had reached below the 1.2620 level's support. At the time of analysis the pair was sharply heading to the 1.2600 mark. Economic Calendar On Friday, the top event of the week is
The release of the United Kingdom's Manufacturing and Services sector Purchasing Managers Indices has caused a major decline of the Pound's value. The survey results were expected to be low. However, the actual results were far below the already pessimistic expectations. On August 23, the data caused a decline, which pierced below a cluster of support levels near 1.2740. A decline
On Tuesday morning, the GBP/USD pierced the resistance of the 1.2782/1.2792 range. However, the 1.2800 stopped the rate and forced it back down to the 1.2760 level. Economic Calendar On Wednesday, watch the UK Manufacturing and Services sector Purchasing Managers Index results. Survey results for are set to be released at 08:30 GMT. Later on, at 13:45 GMT, the US PMIs are scheduled
The GBP/USD has shortly traded below the 1.2667/1.2685 range on Monday. However, the decline did not result in a broad descending of the pair, as support was found in 1.2620. On Tuesday, the pair had recovered and traded near 1.2750. The 50, 100 and 200-hour simple moving averages failed to stop the GBP recovery against the USD. Economic Calendar This week, watch
Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. This caused a piercing of the resistance range and 1.2800 mark, before the pair started a decline. The decline passed below the previously
The GBP/USD found support in the 1.2685/1.2695 range and the 1.2700 mark. Meanwhile, a resistance range has been spotted and marked at 1.2783/1.2793. Despite the updates, the rate remained near previous levels. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT, on Thursday. The inflation data will reveal whether the Fed is managing to fight inflation or not.
The GBP/USD currency pair has encountered resistance in the descending 200-hour simple moving average near 1.2790. The event has resulted in a decline. On Tuesday morning, the pair was heading to the support of the 1.2700 mark. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT, on Thursday. The inflation data will reveal whether the Fed is managing
In the aftermath of the GBP/USD surge, which was caused by the US employment data weakening the USD, the currency rate has been respecting round exchange rate levels. Namely, the pair has encountered resistance as it approached 1.2800 and support is found near 1.2700. Economic Calendar Watch out for the US Consumer Price Index at 12:30 GMT. The inflation data will reveal
In the aftermath of the Bank of England rate hike, the Pound recovered against the US Dollar. The recovery appears to have been stopped by the weekly S1 simple pivot point at 1.2740. By mid-Friday, the pair was trading just above the support of the 1.2700 mark. Economic Calendar On Friday, at 12:30 GMT, the US employment data will impact the USD
The Bank of England has just now increased its Official Bank Rate from 5.00% up to 5.25%. The move was expected by the financial markets. As a result of the policy change the value of the Pound initially reacted with a downwards move, before returning to previous levels. The members of the monetary policy committee voted as follows. Eight members
The GBP/USD ended its sideways consolidation with a decline. By mid-Tuesday, the decline had reached below the 1.2750 level and had almost touched the weekly S1 simple pivot point at 1.2740. Economic Calendar On Thursday, watch out for the Bank of England's expected rate hike at 5.25%. It is possible that not only the GBP pairs, but other financial instruments could adjust
The GBP/USD currency exchange rate has been trading around the 1.2850 mark since mid-Friday. Support is found in the 1.2830/1.2840 range and the 50-hour simple moving average. Resistance is provided by the 1.2870/1.2890 zone, which is strengthened by the weekly simple pivot point at 1.2868 and the 100 and 200-hour simple moving averages. Economic Calendar This week, the rate could be impacted
The Federal Reserve hiked just 0.25% that were expected. Moreover, follow up comments by the head of the Federal Reserve have been perceived by the markets as dovish for the USD. Namely, the US Dollar's value and demand for it will not grow due to monetary tightening, as the Fed remains indecisive and "data dependant." The GBP/USD reacted to the weakness
Today, all attention will be on the US Federal Reserve Rate announcement at 18:00 GMT. The event is going to set the base rate on the USD. A hike is expected to increase the USD demand and value, but no hike would decrease it. Prior to the event, the GBP/USD retraced back up above 1.2900 and broke resistance levels. It could
The GBP/USD has found support in the 1.2800 mark, which caused a move above the resistance and support zone near 1.2850. However, by mid-Tuesday, the rate was back below 1.2850. In general, previous levels are still relevant. Economic Calendar This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT on Wednesday. The Federal Reserve is
The GBP/USD has passed below the support and resistance zone near 1.2850. The range could soon be confirmed as resistance and a decline of the Pound against the US Dollar might continue. Economic Calendar This week, all attention will be on the expected US Federal Reserve Rate hike at 18:00 GMT on Wednesday. The Federal Reserve is expected to increase base interest
The GBP/USD currency pair has revealed that in the first part of July it has been surging in a channel up pattern. Meanwhile, it has been observed that the 50, 100 and 200-hour simple moving averages are quite often managing to impact the rate's direction. Economic Calendar On July 7, at 12:30 GMT, the US Average Hourly Earnings, Non-Farm Employment Change and
By large, the GBP/USD has been ignoring the resistance zone at 1.2718/1.2727. It no longer manages to impact the rate. Meanwhile, it has been spotted that the pair continues to find support in the 200-hour simple moving averages near 1.2690. Economic Calendar On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT, the US Unemployment Claims at 12:30 GMT
On Tuesday, the GBP/USD currency pair managed to break the resistance zone at 1.2718/1.2727. However, the 1.2740 level acted as resistance and forced the pair back below the zone. On Wednesday, the mentioned range still kept the pair down. Meanwhile, support was found in the combination of the 1.2700 mark and the 50 and 200-hour simple moving averages. Economic Calendar This week,
The GBP/USD trades below a resistance zone at 1.2720. Meanwhile, support appears to be provided by the 1.2660 level. Economic Calendar This week, the top event will be the FOMC Meeting Minutes publication on Wednesday at 18:00 GMT. The Meeting Minutes will reveal additional details into the US monetary policy. On Thursday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT,
The United States Bureau of Economic Analysis has published the US Final quarter on quarter Gross Domestic Product data. The markets expected US economy to have grown in the first quarter of the year by 1.4%. Instead of the expected, the economy has been reportedly increased by 2.0%. On the GBP/USD charts it resulted in a drop below 1.2600. The weekly
The 200-hour simple moving average provided enough resistance for the rate to start a decline. On Wednesday, the rate traded below the 50 and 100-hour simple moving averages near the 1.2720 level. Economic Calendar On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value. On Friday, at 12:30 GMT,
The 200-hour simple moving average is stopping the Pound from surging higher against the US Dollar. The SMA is strengthening the 1.2750 level, which is most likely also providing its impact. In general, previous forecast scenarios remains relevant. Economic Calendar On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the