As the media revealed that the government of the United Kingdom was considering a reinstatement of the coronavirus lockdown, the GBP/USD plummeted. On Monday morning, the drop was stopped by the support of a monthly pivot point at 1.2835. Economic Calendar Wednesday is a major day for other data releases. Throughout the whole day the Markit institute is set to publish
The GBP/USD currency exchange rate remains to trade below the psychological level at 1.3000. It is likely that the rate could gain support from the 55-hour SMA and trade upwards. Economic Calendar Wednesday is a major day for other data releases. Throughout the whole day the Markit institute is set to publish Manufacturing and Services Purchasing Managers Indices. The indices are the
On Wednesday, the GBP/USD rate reached the 1.3000 level and bounced off its resistance and began a decline. On Thursday morning, the rate found support in the 55-hour simple moving average and retraced back up. In the near term future, it appeared that the 1.3000 would be tested once again. Economic Calendar On Thursday, the Bank of England is scheduled to make
On Tuesday, instead of reaching the pivot point at 1.2945, the GBP/USD bounced off the resistance of the 1.2920 level. This level had also kept the rate down on Monday. On Wednesday morning, the currency exchange rate traded sideways between the mentioned resistance and the support of the 1.2880 level. Economic Calendar On Wednesday, at 12:30 GMT the US Retail Sales and
On Tuesday morning, the GBP/USD currency exchange rate passed the 100-hour simple moving average's resistance. The resistance had caused a retreat back down to eh 55-hour SMA and monthly pivot point near 1.2830 on Monday. In the near term future, the rate was expected to aim at the resistance of the weekly simple pivot point at 1.2945. Economic Calendar During the week,
The GBP/USD has been trading near the 1.2800 level since reaching it on Thursday. By large the situation had not changed on Monday morning. Meanwhile, the resistance of the 1.2850 mark, which kept the pair down on Friday, was approached by the 55-hour simple moving average. Economic Calendar During the week, noteworthy events start on Wednesday, 06:00 GMT, at that time,
The GBP/USD tested the resistance of the 55-hour SMA and the pivot point at 1.3000 level. These levels eventually caused a sharp decline, which reached the 1.2800 level. On Friday morning, the pair tested the resistance of the monthly S2 and weekly S3 simple pivot points near 1.2835. Economic Calendar The week will end with the publication of the US Consumer Price
The decline of the GBP/USD bounced off the support of the 1.2900 level. By the middle of Thursday's GMT trading hours, the rate had reached above the 1.3025 level. In the future, the decline was expected to continue, as there was no support as low as 1.2840. Economic Calendar On Thursday, at 12:30 GMT a group of minor US data sets is
The decline of the GBP/USD reached far lower than it was expected on Tuesday. Namely, on Wednesday morning, the pair was below the 1.2950 mark. In the future, the decline was expected to continue, as there was no support as low as 1.2840. Economic Calendar There are only couple events expected that could affect the GBP/USD rate. On Thursday, at 12:30 GMT a
During Tuesday morning GMT trading hours, the GBP/USD currency exchange rate passed the support of the weekly S1 simple pivot point that kept the pair up on Monday. In the near term future, the pair was expected to reach for the S1 monthly pivot point at 1.3103. Economic Calendar There are only couple events expected that could affect the GBP/USD rate. On Thursday,
On Monday, the GBP/USD dropped to the support of the weekly S1 simple pivot point at 1.3145. Near term forecasts were based upon what would happen at this level. In the meantime, the pair has broken a long term channel pattern. Economic Calendar There are only couple events expected that could affect the GBP/USD rate. On Thursday, at 12:30 GMT a group of
On Thursday, the GBP/USD exchange rate tested the support formed by the weekly and monthly PPs at 1.3250. Given that the rate is pressured by the 55- and 100-hour SMAs, it is likely that the rate could consolidate. Economic Calendar On Friday, both Canada and the US are set to release their monthly employment data at 12:30 GMT. Depending on the currencies
The 100-hour SMA failed to keep the rate up on Wednesday. On Thursday morning, the currency exchange rate was located at the 1.3280 level and had no technical support as low as a cluster of levels near 1.3250. Economic Calendar On Thursday, watch the economic calendar two times during the day. At 12:30 the weekly US Unemployment Claims are set to
The surge of the GBP/USD managed to reach the 1.3480 level before a retracement back down started. By the middle of Wednesday's GMT trading hours, the rate's decline had been slowed down by the 55 and 100-hour simple moving averages. The near term forecasts were based upon what would happen at the support of the 100-hour SMA, which appeared to
On Tuesday morning, a new high was reached by the GBP/USD currency exchange rate, as the historical high of 1.3383 was passed and the 1.3440 level. In the near term future, the rate was expected to test the resistance of the weekly R1 simple pivot point at 1.3456. Economic Calendar On Tuesday, at 14:00 GMT the US ISM Manufacturing PMI is
On Friday, the GBP/USD exchange rate renewed the 2020 maximum at 1.3360. If the given level holds, it is likely that some downside potential could prevail. Economic Calendar The first week of the month is upcoming. It is set to reveal monthly data sets, which are expected to cause notable currency rate adjustments. On Tuesday, at 14:00 GMT the US ISM Manufacturing
On Friday, the GBP/USD traded above the previous high level of 1.3258, which was passed during the morning hours. In the near term future, the rate was set to test the 1.3300 level. What would happen afterwards was by large based upon the strength of the resistance of the 1.3300 level. Economic Calendar The first week of the month is upcoming. It
On Wednesday, the GBP/USD reached the targeted weekly R1 simple pivot point at 1.3222. In addition, on Thursday morning, the currency exchange rate started testing the combined resistance of the medium channel down pattern and the pivot point. Future forecasts were based upon what would happen at the resistance levels. Economic Calendar On Thursday, the US Preliminary GDP and the US Unemployment
As forecast on Tuesday, the GBP/USD has passed the resistance of the technical levels that were located from 1.3110 to 1.3140. However, the breaking of the resistance levels did not result in the expected surge to the weekly R1 simple pivot point at 1.3220, as the 1.3160 level stopped the pair. Economic Calendar On Wednesday, at 12:30 GMT traders should watch the
The GBP/USD trades between the support line of the medium scale channel down pattern and the resistance of hourly SMAs and a weekly simple pivot point. In theory, the rate should eventually pass the resistance levels and surge. Economic Calendar As the last week of the month, the following week is expected to be a quiet one. However, there are events
On Monday, the GBP/USD traded near the 1.3100 level. By the middle of the day's GMT trading hours, the rate was expected to test resistance levels at 1.3140. In the meantime, the currency exchange rate revealed a medium scale channel down pattern. Economic Calendar As the last week of the month, the following week is expected to be a quiet one. However,
The GBP/USD recovered to the 1.3250 level. On Friday morning, it was expected that the currency exchange rate would test previous high levels. Namely, the 1.3265 mark should provide resistance to the currency pair. FOMC Meeting Minutes Volatility increased and USD gained strength against all other financial assets, following the FOMC Meeting Minutes release on Wednesday at 18:00 GMT. According to the
Due to the FOMC Meeting Minutes, the GBP/USD dropped and erased previous gains, as the US Dollar strengthened against all other assets. On Thursday, the rate had almost reached the 1.3050 level. Economic Calendar On Thursday, the weekly US Unemployment Claims are set to be published at 12:30 GMT. The event has caused minor moves throughout July. Click on the link below to
Not only did the rate reach the 1.3215 level and break it, the pair pierced the 1.3250 level on Wednesday morning. On Wednesday, the 1.3265 level provided resistance, as the pair began to consolidate its gains by trading sideways. Economic Calendar Despite the week having high impact events on the calendar, Dukascopy Analytics do not expect notable macroeconomic data caused moves. First of