The Bank of England suddenly announced on Wednesday that it would buy government bonds for a total amount of 65 billion, despite ongoing monetary tightening. Initially, the rate was highly volatile and declined, as additional 65 billion Pounds would be poured into the economy. However, the central bank afterwards stated that it would still stick to rate hikes. Additional stimulus is
On Wednesday morning, the GBP/USD currency pair found support in the weekly S1 simple pivot point at 1.0637. Meanwhile, it appeared that minor resistance was provided by the 50-hour simple moving average near 1.0740. Economic Calendar On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome
Since encountering resistance in the form of the 1.0900 level up to mid-Tuesday, the GBP/USD pair had confirmed the weekly S1 simple pivot point at 1.0637 as support and recovered to the combined resistance of the 1.0800 level and the 50-hour simple moving average. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there
At the start of the week, the GBP/USD plummeted due to the release of the UK's fiscal budget plan. The pair has reached low levels that have not been seen since 1985. Moreover, the pair shortly traded below the 1985 low level. Namely, the GBP/USD has not been this low for more than half a century. Economic Calendar This week, there are
Initially the Federal Reserve Rate hike and press conference caused major volatility, but the resistance of the 1.1350 held. Afterwards, a decline occurred, which reached below 1.1250. However, during the early hours of Thursday's European trading, the currency pair began a recovery and approached the 1.1300 level. Economic Calendar On Thursday, all GBP pairs will adjust to the new UK monetary policy,
At 18:00 GMT, the US Fed will hike interest rates. Depending on the size of the hike, the USD will either surge or decline. The GBP/USD is set to adjust accordingly. Prior to the meeting though, the currency exchange rate passed below the support of the 1.1350 level and confirmed it as resistance. Economic Calendar This week, the top event of them
With the start of Tuesday's GMT trading hours, the GBP/USD pierced the resistance zone at 1.1440/1.1450. However, a surge did not follow, as resistance was found in the 100-hour simple moving average. Meanwhile, the rate was observed to be finding support in the 50-hour simple moving average. Economic Calendar This week, the top event of them all is scheduled for Wednesday. At
Last week, the GBP/USD was testing the resistance zone at 1.1715/1.1760, as the US consumer price index data revealed that the US Federal Reserve is highly likely to be more hawkish on their policy and increase the value of the USD. By Monday, September 19, the rate had reached and was finding support in the 1.1350 level. Meanwhile, 1.1450 level
The recovery of the Pound of the US Dollar continues. On Monday, the pair reached the 1.1700 level and the weekly R1 simple pivot point. Economic Calendar On Tuesday, the US Consumer Price Index and Core Price Index are set to impact the markets through the US Dollar's value adjusting to US rate hike expectations. Namely, too high inflation is set to
On Friday, the strength of the US Dollar declined against all other assets. As a result, on the GBP/USD charts a surge up to the 1.1650 occurred. Economic Calendar On Monday, at 06:00 GMT, the GBP/USD pair is set to react to the publication of the monthly UK GDP data. On Tuesday, the US Consumer Price Index and Core Price Index are
On Wednesday, the Pound almost reached the 1.1400 mark against the US Dollar. In general, the GBP/USD pair has not been this low since March 2020. However, the combined support of the weekly S1 simple pivot point at 1.1411 and the 1.1400 mark was enough to cause a retracement back up. During the early hours of Thursday's European trading, the pair
At mid-day on Wednesday, the GBP/USD currency pair reached below the 1.1450 level and approached the support of the weekly S1 simple pivot point at 1.1411. Economic Calendar This week, notable events are over. However, take into account that next week, already on Monday the UK GDP will be published at 06:00 GMT. GBP/USD short-term view A move below the weekly S1 at 1.1411
The GBP/USD currency pair appears to have ended its steep decline, as it has recovered from 1.1450 up to the 1.1600 mark. During the surge, the rate passed the resistance of the 50 and 100-hour simple moving averages and the weekly simple pivot point. Economic Calendar This week, on Tuesday at 14:00 GMT, the US Institute for Supply Management Purchasing Managers Index
The decline of the Pound against the US Dollar has reached the 1.1450 level. The pair has been declining in a set way. A new round low level is reached, the pair then retraces back above the previous round level, prior to reaching a new low level. For example, GBP/USD reached 1.1500, recovered above 1.1550 and then reached the 1.1450
The Pound has continued to decline against the US Dollar. On Thursday, the pair hit the 1.1500 mark, which acted as support. Since mid-Thursday, the rate has retraced and been trading around the 1.1550 level. Economic Calendar The top event of the week is scheduled for Friday, at 12:30 GMT. At that time, the US Unemployment Rate, Non-farm Employment Change and the
The weekly S2 simple point's and the 1.1600 level's support held for half a day, before September started and the rate declined further. By the middle of Thursday's trading, the pair was heading to the 1.1550 level. Economic Calendar On Thursday, at 14:00 GMT, the US ISM Manufacturing Purchasing Managers Index could cause a market adjustment. The top event of the week is
The resistance of the 1.1715/1.1760 zone held out on Tuesday and a decline followed. By the middle of Wednesday's trading hours, the currency pair had reached the combination of the 1.1600 level and the weekly S2 simple pivot point at 1.1601. Economic Calendar On Thursday, at 14:00 GMT, the US ISM Manufacturing Purchasing Managers Index could cause a market adjustment. The top event
On Tuesday morning, the GBP/USD currency exchange rate was testing the resistance of the last week's low level zone at 1.1715/1.1760. In the meantime, the zone is being approached by the 50 and 100-hour simple moving averages. Economic Calendar This week, on Tuesday the release of the US CB Consumer Confidence and JOLTS Job Openings data at 14:00 GMT might impact the
In the aftermath of the Jackson Hole symposium of central bankers, the GBP/USD currency pair declined. On Monday morning, the rate had reached the 1.1650 level, which acted as support. Economic Calendar This week, on Tuesday the release of the US CB Consumer Confidence and JOLTS Job Openings data at 14:00 GMT might impact the financial markets through the value of the
The GBP/USD pair has revealed a support zone at 1.1717/1.1756. The zone captures this week's low levels. In the meantime, on Thursday morning, the rate reached above the resistance of the 100-hour simple moving average and the 1.1850 level. Economic Calendar On Thursday, at 12:30 GMT the US quarterly Preliminary GDP data is set to cause a move in the US Dollar
At mid-day on Tuesday, weakness of the US Dollar caused a surge of the GBP/USD currency exchange rate. The rate shortly traded above the 1.1850 mark, before declining. On Wednesday morning, the pair found support in the 50-hour simple moving average and the 1.1800 mark. Economic Calendar On Thursday, at 12:30 GMT the US quarterly Preliminary GDP data is set to cause
The GBP/USD has passed the July low level at 1.1760 and the 1.1750 mark. On Tuesday morning, the pair reached the 1.1720 level. Meanwhile, the rate was being approached by the 50-hour simple moving average from the above. Economic Calendar At 13:45 GMT, the US Flash Services PMIs could impact the rate through an adjustment in the value of the US Dollar.
The Pound has declined in value, compared to the US Dollar, as the rate has extended its last week's decline. On Monday, the pair shortly reached below the 1.1800 level. Economic Calendar On Tuesday, at 08:30 GMT, the Pound's value is scheduled to react the publication of the UK Flash Manufacturing and Services Purchasing Managers Indices. At 13:45 GMT, the US Flash Services
On Wednesday morning, the GBP/USD reached above the 1.2100 mark. However, after a failed attempt at reaching 1.2150, the currency pair began to trade around the 1.2100 level. In general, the pair reacted to the UK higher than forecast inflation data, which caused the sure. Namely, higher inflation means more monetary tightening and a smaller supply of the GBP, which results