The Federal Reserve's decision to cut interest rates on its native currency has had a significant impact on GBP/USD. The rate decreased from the 1.27000 price level to 1.25000 before recovering above 1.25500. Economic Calendar No significant volatility is expected this week, considering the low number of macroeconomic data coming out of both the UK and the United States. GBP/USD hourly chart analysis
Previous week saw resistance of 1.27700 having significant influence on the further price move, creating price pressure to the downside, lowering currency pair price towards 1.26200 price level. Economic Calendar This week should see a significant increase in volatility, as domestic data will be released regarding retail sales, the unemployment rate, CPI, and the BoE interest rate decision on the 19th of
Although the previous week saw some volatility in the GBP/USD currency pair, it helped the pair gain momentum and steadily rise above the 1.27000 level. Further confirmation of the overall trend should occur in the upcoming weeks, provided there are no sudden global changes. Economic Calendar This week, the Office for National Statistics in the UK will report month-on-month changes in the
The decline of the Pound against the US Dollar has continued. However, on Friday, the rate appeared to have found support in the 1.2600 mark, namely the 1.2600/1.2620 range. Economic Calendar br> The week will be calm. There are no events that could impact the rate up to Friday. On Friday, the publication of the Manufacturing and Services sector Purchasing Managers Indices could
The US elections caused a drop of the GBP/USD to the support range near 1.2840. Surprisingly, the range held and forced the pair into another test of the resistance of the 1.3000 mark. However, the 1.3000 held and by this week the pair was back at 1.2840/1.2855. Economic Calendar This week, markets will watch the publication of the US Consumer Price Index
Prior to the US Presidential Elections, the GBP/USD plummeted due to US jobs and inflation data and revealed that it is finding support at 1.2845/1.2855. The support was enough to force the rate to return to the 1.3000 mark. Economic Calendar The US Presidential Election and the Congressional elections takes place on Tuesday. These events will guide the financial markets. On Thursday, at12:00
Last week, the GBP/USD declined below the 1.3000 mark. Since then, the pair has been finding support in 1.2900 and 1.2940 and testing the resistance of 1.3000. In the meantime, it has been observed that the rate has been ignoring the weekly simple pivot points and the hourly simple moving averages. Economic Calendar This week, the market might move due to the
After the high impact week that was caused by UK data releases, the pair has returned to trade near the 1.3000 mark. In the near term future, the pair could look for support in the round level. Economic Calendar This week, notable events for the rate are scheduled for Thursday. At 08:30 GMT, the S&P Global Purchasing Managers Index survey results for
The GBP/USD fluctuated sideways and even recovered on Tuesday to the 1.3100 mark. However, on Wednesday morning, the UK CPI was published. Inflation in the United Kingdom is even lower than expected. Monthly inflation measured year-on-year is just 1.7% instead of the expected 1.9%. Moreover, it is a decline from 2.2% in the prior month. Economic Calendar On Thursday, watch the US release
The GBP/USD was highly volatile after the publication of the US Consumer Price Index. By the end of the volatility, the rate attempted to recover, but failed near the 1.3080 mark and the 100-hour simple moving average. On Monday, it was observed that the pair could decline as low as 1.3000. Economic Calendar This week, the GBP/USD could react to a number
Since Monday, the GBP/USD currency pair has been fluctuating between the support of the 1.3050 level and the resistance range near 1.3100. In the meantime, the pair has passed the upper trend line of the channel down pattern. In general, the pair is waiting for the publication of the US Consumer Price Index data. The CPI will show the direction of
The 1.3300 mark held, and a decline occurred throughout the week. In general, one event after another has strengthened the US Dollar, which has resulted in a decline of the GBP/USD as low as the 1.3050 level. Meanwhile, it was observed that the pair faced the resistance of the 50-hour simple moving average. Economic Calendar This week, the markets could react to
All the previously described support levels eventually failed, despite holding for a couple of hours. Eventually, by mid-Wednesday it was observed that the pair had found support in the 1.3250 level. The level had caused a recovery that was testing the resistance of the 1.3300 mark. Economic Calendar On Thursday, the Institute for Supply Management will publish the Seervices sector Purchasing Managers
The decline of the GBP/USD eventually broke the channel up pattern, but found support in the 1.3300/1.3315 range. Since then, the pair has been testing the resistance of the high level range at 1.3425/1.3435. In the meantime, support has been provided by the 50 and 100-hour simple moving averages. Economic Calendar This week, the market could move due to a couple of
The surge of the Pound against the US Dollar has reached the 1.3430 level where it met the upper trend line of the channel up pattern. Since then, the rate has found support in the 50-hour simple moving average, and the surge could continue. Economic Calendar On Thursday, the markets might react to the publication of the US Final GDP data release.
Despite the decline that was caused by the UK PMI release, the rate has found support in the 1.3250 level and the 100-hour simple moving average. The event was followed by a recovery of the rate and eventually the booking of a new high level near 1.3350. In the meantime, a channel up pattern has been spotted that has been
The United States Federal Reserve has cut interest rates more than the markets expected. The Fed has cut 0.50% instead of 0.25%. The larger than expected USD rate cut initially caused a USD decline, as the demand for USD to pay off loans is set to decrease. Bank of England in its Monetary Policy Committee has decided to keep interest rates
The recovery of the Pound against the US Dollar has revealed a channel up pattern. The channel represents the market expectations of a US interest rate cut that is scheduled for Wednesday. Meanwhile, note that the surge has reached the 1.3200 mark, which appears to be acting as a magnet to the pair. Namely, the rate is consolidating its gains near
The decline of the GBP/USD has found support in the 1.3000 mark and the range that surrounds it. The event was followed by a recovery that on Thursday started to respect the resistance of the 1.3100 level. Economic Calendar This week's notable events are over. GBP/USD hourly chart analysis A move above 1.3100 is expected to immediately encounter resistance in the 200-hour simple moving
The recovery of the GBP/USD was ended by the release of the US monthly employment data. The data shook the value of the US Dollar down and up, before a clear strengthening. On the GBP/USD charts, it was represented by high volatility near the 1.3200 level. However, the follow-up decline eventually passed below the 1.3100 mark, which turned into resistance. Economic
The decline of the Pound against the US Dollar ended at the 1.3100 mark. Despite shortly trading below 1.3100, the pair eventually recovered. After a period of sideways trading, the rate broke the channel down pattern and various resistance levels. By mid-Thursday, the pair had made a second attempt to break the resistance of the 1.3175/1.3180 range. Economic Calendar On Thursday, at
On Friday, it was reported - "The Pound's decline against the US Dollar has reached the 1.3120/1.3130 support zone. In addition, the pair has revealed a channel down pattern that has guided the rate's decline." By late Monday's trading, the situation was mostly unchanged, as the rate had bounced off the combination of the pattern's lower trend line and the 1.3120/1.3130
The Pound's decline against the US Dollar has reached the 1.3120/1.3130 support zone. In addition, the pair has revealed a channel down pattern that has guided the rate's decline. Economic Calendar Next week, notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and might impact the US Dollar. On Wednesday, at 14:00 GMT, the
The surge of the Pound against the USD eventually exhausted itself near the 1.3250 level. The reaching of this level was followed by a decline to the 1.3170./1.3180 range that provided support. Since then, the rate has traded between this range and the resistance of the 1.3220/1.3230 range. The pair remained between this range, despite Thursday morning news of decreasing inflation