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
On Wednesday morning, the GBP/USD currency exchange rate managed to pass the resistance of the hourly simple moving averages and the simple weekly pivot point. By the middle of European trading hours, the currency exchange rate had passed the 1.3450 mark. Economic Calendar There are couple of macroeconomic data releases expected that could move the GBP/USD rate. On Thursday, the US CPI
Since the Monday drop, the GBP/USD currency exchange rate has recovered. However, the recovery has been kept down by the resistance of the 55, 100 and 200-hour simple moving averages in the 1.3380/1.3400 zone. In the near term future the rate could be pushed down by the SMAs. However, note that fundamental EU-UK trade deal news continue to be incoming
On Monday morning, the GBP/USD plummeted. The drop was caused by news that the Prime Minister of the United Kingdom, Boris Johnson could withdraw from the trade talks with the EU. The news were reported by The Sun. From a technical analysis perspective, the currency exchange rate dropped below the support of the 1.3300 mark and began to trade just
During Friday morning hours, the GBP/USD exchange rate reversed north from the 55-hour SMA near 1.3410. It is likely that some upside potential could prevail, as the rate is also supported by the 100- and 200-hour SMAs near 1.3380. Note that the rate could face the resistance level – the weekly R3 at 1.3526. Economic Calendar On Friday, the US will
By the middle of Thursday's GMT trading hours, the GBP/USD had recovered the almost 150 pip losses that were suffered on Wednesday due to the UK-EU trade deal issues. Moreover, the rate had surged higher than the previous high level of 1.3440, as it had reached the 1.3450 mark. Economic Calendar On Wednesday and Thursday, the markets are unlikely going to be
During Wednesday, December 2, the British Pound lost 134 pips or 1.00% against the US Dollar. It is likely that the British Pound slipped down as the post-Brexit trade deal doubts emerged. The EU negotiator said that there was no guarantee the union would add the UK to its list of approved countries for food imports. Earlier, the EU
After two additional attempts to pass the resistance of the 1.3380/1.3400 zone, the GBP/USD retreated to the support of the 200-hour simple moving average and the weekly simple pivot point at 1.3328. If the 200-hour SMA continues to hold, another attempt at breaking the resistance zone could occur. Economic Calendar On Tuesday, the GBP/USD currency exchange rate could be impacted by the