The currency pair has managed to reach above the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2159. At mid-day on Tuesday, the rate respected the resistance of the 1.2200 mark. Economic Calendar This week most events will be ignored due to a simple reason. The US central bank, The Federal Reserve is scheduled to make
The currency exchanger ate has respected the support of the 1.2100 mark and the zone that surrounds its. The events have resulted in a recovery of the Pound against the US Dollar. At mid-day on on Monday, the rate was testing the resistance of the weekly simple pivot point at 1.2159. Economic Calendar This week most events will be ignored due to
The GBP/USD shortly reached below the 1.2100 mark, prior to recovering. On Friday, the rate appeared to be trading between the support of the 50-hour simple moving average near 1.2110 and the resistance of the 1.2140 level. Economic Calendar On Friday, the US Core PCE Price Index data will impact the value of the US Dollar. The US monetary policymakers watch the
The GBP/USD has confirmed that it is respecting a support zone near the 1.2100 mark. The zone caused a recent recovery of the pair that managed to reach above the 50 and 100-hour simple moving averages. On Monday, the pair broke the 200-hour moving average at 1.2185 and approached the resistance zone at 1.2215/1.2225. Economic Calendar On Tuesday, at 13:45 GMT, the
By mid-Wednesday, the pair continued to bounce between the support range at 1.2040/1.2050 and resistance at 1.2218/1.2225. Economic Calendar This week, there are couple of events that might cause minor reactions in the Forex market. On Thursday, the US weekly Unemployment claims could create a minor reaction in the US Dollar. However, by large this event is being ignored by the markets,
The currency exchange rate has bounced off the resistance of the 1.2218/1.2225 range and declined to as low as 1.2150 during the early hours of Tuesday. Economic Calendar This week, there are couple of events that might cause minor reactions in the Forex market. On Thursday, the US weekly Unemployment claims could create a minor reaction in the US Dollar. However, by
The GBP/USD currency exchange rate has passed above the 1.2260/1.2285 range, the 1.2300 mark and the weekly R1 simple pivot point at 1.2317. However, after the gains, the pair started to retrace backwards. It was expected that it would look for support in previous resistance levels. Economic Calendar On Thursday morning, the UK GDP is set to be published at 06:00 GMT.
The GBP/USD is facing the resistance zone that is located at 1.2260/1.2285. Meanwhile, on Tuesday support was being provided by the 50-hour simple moving average. Economic Calendar Watch out for the US inflation data. On Wednesday, the US Producer Price Index is set to be published at 12:30 GMT. Also on Wednesday, the US Federal Reserve will publish the FOMC Meeting Minutes.
The financial markets have ignored technical levels due to fundamental events taking place. On Friday, the US employment data caused high volatility and an eventual decline of the US Dollar. On Monday, the Dollar recovered because of a run to safety that started due to the war in Israel. During the events the GBP/USD pair's channel down pattern initially held. However,
On Thursday, the GBP/USD currency exchange rate passed the resistance of the 200-hour simple moving average that had kept the rate down since mid-Wednesday. After confirming the moving average as support, the rate approached the upper trend line of the channel down pattern that had guided the rate down since August 30. Economic Calendar On Friday, the top event of the week
The GBP/USD currency exchange rate has reached the 1.2040 level, which served as support. The reaching of the new low level was followed by a steep recovery of the pair. By mid-Wednesday, the rate was approaching the 200-hour simple moving average near 1.2170. Economic Calendar On Thursday, minor action is expected from the US Unemployment Claims. On Friday, the top event of the
The GBP/USD has continued its decline and reached below the 1.2100 mark. Moreover, on Tuesday the 1.2100 level appeared to have turned into resistance. Economic Calendar On Wednesday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT and the US ISM Services PMI at 14:00 GMT. On Thursday, minor action is expected from the US Unemployment Claims. On Friday, the top
The recovery of the Pound against the US Dollar has reached the resistance of the 200-hour simple moving average near 1.2250. Economic Calendar This Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. Next week, the US ISM Manufacturing PMI could impact the markets via the US Dollar at 14:00 GMT. On Tuesday, the
The support of the channel down pattern has caused a recovery of the GBP/USD currency pair. During the second part of Thursday's trading, the rate was trading around the 1.2200 mark. Economic Calendar On Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view A continuation of the ongoing Pound's recovery against the
The pair has been declining by closely trailing the lower trend line of the channel down pattern. Throughout the first part of Wednesday's trading, the trend line kept the rate up. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view Eventually, the decline of the Pound against the US
The GBP/USD has reached the support of the weekly S1 simple pivot point at 1.2170. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view A recovery from the 1.2170 level could encounter resistance in the 1.2200 mark and the 50-hour simple moving average near 1.2220. Higher above, note the
This week, the Pound reached the 1.2200 mark and was set to decline further. Economic Calendar This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT. GBP/USD short-term view The decline could look for support in the weekly S1 simple pivot point at 1.2170 and the lower trend line of the channel down pattern. In
The GBP/USD bounced off the combined support of the weekly S2 at 1.2447 and the lower trend line of the channel down pattern. During the early hours of Friday's trading, the pair reached the upper trend line of the pattern near 1.2500 and appeared to have resumed the broader decline. Economic Calendar This week, notable events are over. Due to this reason,
The GBP/USD resumed its descent after the release of the better than expected US ISM Services PMI survey results. In the aftermath of the initial drop, it was spotted that the recent lower low and lower high levels can be connected to reveal support and resistance lines. At mid-day on Thursday, the rate was looking for support in the combination
The broader strength of the US Dollar has resulted in the GBP/USD pair passing below the 1.2548/1.2579 range. However, the event has not been followed by a larger decline of the rate. During Tuesday's European trading hours, the rate fluctuated around the pierced support zone, as if confirming it as resistance before resuming the broader decline. Economic Calendar Watch the US ISM
On Friday, the GBP/USD reacted to the strengthening of the US Dollar, which was caused by the US monthly employment data release. The decline of the pair eventually found support in the 1.2548/1.2579 range and started a recovery. By mid-Monday, the rate had reached the combined resistance of the 50, 100 and 200-hour simple moving averages near 1.2650. Economic Calendar Watch the
During the week of notable US data releases the GBP/USD surged to the resistance of the 1.2750 level. The resistance was enough to cause a decline, which on Friday was passing below the weekly simple pivot point at 1.2640. Economic Calendar Next week, watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable
The release of the US job openings data caused major USD weakness. On the GBP/USD charts it resulted in the rate breaking all resistance up to the 1.2650 level. On Wednesday morning, the pair was confirming the 1.2620 level as support. Economic Calendar On Wednesday, the US ADP Non-farm Employment Change number could impact the US Dollar's value at 12:15 GMT. However,
During late Monday's trading, the Pound managed to recover against the US Dollar. However, it encountered resistance on Tuesday morning in the 100-hour simple moving average near 1.2630. The encounter turned into a decline. By the middle of the day, the rate had reached below the Monday's low level of 1.2565. Economic Calendar On Wednesday, the US ADP Non-farm Employment Change number