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
On Monday, the GBP/USD traded between hourly simple moving averages, which provided both resistance and support. The near term future was based upon whether the rate passes the resistance of the 55 and 100-hour SMAs or the support of the 200-hour SMA. Economic Calendar On Tuesday, the GBP/USD currency exchange rate could be impacted by the 15:00 GMT publication of the
The resistance of the 1.3380/1.3400 level caused another drop. This time, the rate passed the support of the 55 and 100-hour SMAs, a pivot point and broke out of the ascending triangle pattern. In the near term future, the rate was expected to test the support of the 1.3320 level and the 200-hour simple moving average. Economic Calendar Next week, on Tuesday,
The 100-hour simple moving average once again caused a surge of the GBP/USD, which again tested the resistance of the 1.3380/1.3400 zone. The resistance held and by the middle of Thursday's European trading hours, the rate had once again retreated to the 100-hour SMA. Near term future forecasts were based upon whether the 100-hour manages to cause another surge. Economic Calendar There
The 100-hour simple moving average provided the GBP/USD with enough support for the rate to return to the resistance of the 1.3380 level. On Wednesday morning, the pair bounced off this level. By the middle of the day's GMT trading hours, the rate had reached below technical support levels near the 1.3340 mark. Economic Calendar At 12:30 GMT the usual US weekly
The announcement of a new coronavirus vaccine occurred, as the rate reached the 1.3400 level. The event caused a surge of the USD, which means that the GBP/USD rate declined. The decline stopped near the 1.3265 level. By the middle of Tuesday's GMT trading hours, the rate had managed to recover to the 1.3380 level, which provided resistance and
By the middle of Friday's European trading hours the GBP/USD currency exchange rate reached the 1.3380 level. In the meantime, it was spotted on the daily candle chart that the rate had broken a large scale channel up pattern. Economic Calendar On Monday, the day is scheduled to end with the US PMIs at 14:45 GMT. Previously, the event did not cause
On Thursday, the 1.3200 level provided the GBP/USD with enough support for the rate to surge above the resistance of the hourly simple moving averages. By the middle of Friday, the rate traded above the 1.3260 level, which was supported by the 55-hour SMA. Economic Calendar On Monday, at 09:30 GMT, the UK Markit PMIs are set to be published and
The surge of the GBP/USD continued until it reached the resistance of the weekly R1 simple pivot point at 1.3310. At mid-day on Thursday, the currency exchange rate had reached the support of the weekly PP at 1.3208. After reaching the weekly PP, the rate traded between the pivot point and the 55-hour simple moving average. Economic Calendar On Thursday, expect the
As forecast, the GBP/USD currency exchange rate surge on Monday. However, the surge was caused by the 55-hour SMA instead of the 200-hour SMA. In the meantime, the rate has revealed a channel up pattern, which has guided the rate since Friday. Economic Calendar Notable data releases start on Tuesday. At 13:30 GMT, expect the US Retail Sales data sets to
On Monday, after touching the 1.3240 level, the GBP/USD currency exchange rate declined to the support of the 55-hour SMA. Meanwhile, the rate was being approached by the support of the 200-hour simple moving average. Due to that reason the forecast of a surge was favoured. Economic Calendar Notable data releases start on Tuesday. At 13:30 GMT, expect the US Retail Sales
As expected, on Thursday, the GBP/USD reached the support of the 200-hour simple moving average. At the 1.3100/1.3120 level. This resulted in a surge, which by the middle of Friday's trading reached the resistance of the 55 and 100-hour simple moving average near 1.3190. Economic Calendar On Friday, the US Producer Price Indices are scheduled to be released at 13:30 GMT. The
On Thursday, the GBP/USD currency exchange rate retreated to trade below the 100-hour simple moving average. The SMA was providing resistance at the 1.3200 level. In the meantime, the currency exchange rate had no technical support as low as the 1.3100 level, where the 200-hour SMA was located at. Economic Calendar On Thursday, at 13:30 GMT USD pairs could move because of
The GBP/USD has reached the 1.3300 level on Wednesday morning. The rate touched the level before retreating back to the support of the 1.3250 mark. In regards to the near term future, the rate was set to trade sideways until the additional support of the 55 and 100-hour simple moving averages catch up. Economic Calendar On Thursday, at 07:00 GMT pay attention