At mid-day on Thursday, just as the US markets were about to open, the GBP/USD currency exchange rate reached the resistance zone of early February high levels at 1.3620/1.3629 Economic Calendar During next week, there are various types of events, which could impact different currencies. However, among the events it is clear that the top one is the quarterly US Preliminary
As the US Federal Reserve released the FOMC Meeting Minutes, the GBP/USD surged due to markets observing US Dollar's weakness. The event resulted in a test of the 1.3600 level's resistance. Economic Calendar On Thursday, the US Unemployment Claims could cause an adjustment of the USD value. The week will end on Friday with the UK Retail Sales data at 07:00 GMT Click
At mid-day on Tuesday, the GBP/USD currency exchange rate broke the resistance line of the channel up pattern, which captured the rate since the middle of last week. In addition, the resistance of the 50, 100 and 200-hour simple moving averages was passed. However, the pair found resistance in the weekly simple pivot point at 1.3568. Economic Calendar On Tuesday, at
On Monday morning, the GBP/USD currency exchange rate declined to the 1.3500 mark. The 1.3500 level acted as support and managed to hold, by the middle of the day's European trading hours. Economic Calendar On Tuesday, at 13:30 GMT, the US Producers Price Index data will reveal, how high is the inflation at the production level. On Wednesday, at 07:00 GMT, the
Just like all USD pairs and assets the GBP/USD was highly volatile during the US Consumer Price Index release. The pair was bouncing around in the 1.3525/1.3645 range after the release. On Friday morning, the currency exchange rate found support in the weekly simple pivot point at 1.3517 and started a surge. By the middle of the day's European trading
During the early hours of Wednesday's US trading hours, the GBP/USD currency exchange rate had revealed a channel up pattern, which had guided the rate since Friday. However, the pattern was not expected to hold, as the incoming US Consumer Price Index data on Thursday was expected to cause an adjustment of the value of the USD. Economic Calendar On Thursday,
The GBP/USD currency exchange rate surged on Tuesday, as it reached above the resistance of the 50 and 100-hour simple moving averages near 1.3530 and 1.3550. At mid-day European trading hours, the pair shortly reached above the 1.3560 level. Economic Calendar On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT
In the aftermath of the Bank of England rate hike, the GBP/USD has declined. On Monday, the currency pair reached below the 1.3500 mark and touched the 200-hour simple moving average near 1.3490. Meanwhile, resistance was being provided by the 100-hour simple moving average near 1.3550. Economic Calendar On Thursday, the publication of the US Consumer Price Index and US Core
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening. On the release, the GBP/USD suddenly dropped by 23 base points or 0.17%,
The surge of the GBP/USD currency exchange rate has reached above the 1.3550 mark. In general, it was initially seen that the pair has no technical resistance as high as the weekly R2 simple pivot point at 1.3650. Meanwhile, it was expected that the 1.3600 mark could act as resistance. Economic Calendar On Thursday, the Bank of England will release its
At mid-day on Tuesday, the GBP/USD currency exchange rate passed the resistance of the 1.3500 mark and shortly fluctuated above this level. Afterwards, the pair retraced to the 1.3480 mark. Economic Calendar On Tuesday, the US ISM Manufacturing Purchasing Managers Index release at 15:00 GMT could cause USD moves. On Wednesday, at 13:15 GMT, the US ADP Non-Farm Employment Change is set
The GBP/USD pair touched the 1.3450 mark at mid-day on Monday. However, the round exchange rate level acted as resistance and caused a retracement to the 1.3400 level and the 50-hour simple moving average. In the meantime, some resistance was being provided by the 100-hour simple moving average and the weekly simple pivot point near 1.3440. Economic Calendar On Tuesday, the
Since mid-Thursday, the GBP/USD has been trading above the support of the 1.3360/1.3375 zone. At mid-day on Friday, the pair bounced off the support zone and suddenly surged to the 50-hour simple moving average at 1.3425. Economic Calendar GBP/USD short-term review A move above the 50-hour simple moving average could find resistance in the combination of the weekly S2 simple pivot point
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the GBP/USD charts, by mid-Thursday, the event had resulted in the crashing of
The GBP/USD has been declining in a broad channel down pattern since January 13. Meanwhile, the rate has made sharper moves down in a junior pattern since January 20. Future forecasts were based upon whether the junior pattern holds. Economic Calendar Note that the market participants were expecting the US Federal Reserve announcements on Wednesday at 19:00 GMT. GBP/USD short-term review A
The GBP/USD currency exchange rate has been trading between the 1.3700 and 1.3750 levels since the US CPI surge. Most recently, on Friday the rate was approached by the 50-hour simple moving average. Meanwhile, the pair almost in all cases ignored the support of the weekly R2 simple pivot point at 1.3709. Economic Calendar The week will end with the US
The surge of the GBP/USD that was caused by the US Consumer Price Index release has reached the 1.3750 level's resistance. The round exchange rate level forced the pair into a retracement back down just before mid-day on Thursday. The consolidating decline appeared to be finding support in Wednesday's high level at 1.3715. Economic Calendar The week will end with the
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. The GBP/USD currency exchange rate reacted by sharply moving to the 1.3680 mark, which at 14:00 GMT appeared to have stopped the jump. Economic Calendar On Thursday, at 13:30 GMT, the US Producers Price Index and Core Producers
On Tuesday, the GBP/USD currency exchange rate managed to pass the resistance of the 1.3600 mark. However, almost immediately resistance was provided by the 1.3620 level. The resistance held and a minor decline occurred. By the start of Tuesday's US trading hours the pair had retraced to the 100-hour simple moving average near 1.3560. Economic Calendar The top data set of
On Monday morning, the GBP/USD currency pair tested the resistance of the 1.3600 mark. By the middle of the day's European trading hours, the pair had bounced off the resistance and returned to levels near 1.3550. Near the 1.3550 mark, the rate might find support in the 100-hour simple moving average and the weekly simple pivot point at 1.3542. Economic Calendar The
The release of the US monthly employment data at 13:30 GMT on Friday increased volatility on all pairs and assets that involve the US Dollar. During the volatility, the currency pair pierced the resistance of the 1.3550/1.3560 zone. Economic Calendar There are no more notable events set for this week. Next week's review is scheduled for Monday. GBP/USD short-term review If the GBP/USD
The surge of the GBP/USD was testing the resistance of the 1.3600 mark, as the US Fed Meeting Minutes caused a drop back to the 1.3500 level. By late Thursday trading hours, the rate had recovered and made an attempt to pass the 1.3560 level, before retreating below 1.3550. Economic Calendar The most notable event of the week will be the
Starting from Tuesday up to the middle of Wednesday's trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT. However, some might argue
On Tuesday, the GBP/USD surged and reached for the resistance of the December 31 high level at 1.3550. The rate reached the 1.3550 level in the aftermath of finding support in the 200-hour simple moving average near 1.3440. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30