On Thursday, the Bank of England Monetary Policy Committee's vote dispersion surprised the markets, as it was more bullish for the GBP than it was expected. Namely, GBP/USD jumped due to the announcement. Note that the spike occurred a minute before the release. This happens during the aftermath of a scandal of BoE announcement information being released to some
The 1.3000 level was pierced on Tuesday. On Wednesday, the rate had retraced back up in the borders of a channel down pattern. In the near term future, the rate was expected to bounce off the upper trend line of the pattern and resume its decline. In the case of a decline, the pair would aim for the support
On Tuesday morning, the GBP/USD exchange rate touched the 1.3005 level. In general, the rate was expected to continue to decline until it reaches the 1.3000 level. The 1.3000 level is expected to provide support. However, take into account that the 1.3000 failed to stop the pair from declining two times in January. Economic Calendar During the last week of
During Monday morning, the GBP/USD exchange rate was trading between the 55- and 200-hour moving averages. If the given moving averages hold, it is likely that the British Pound could consolidate against the US Dollar in the short term. Economic Calendar During the last week of January, most attention will be paid to the US Federal Reserve and the
On Friday morning, the GBP/USD traded with almost 100 pip volatility during a period of one hour. The volatility ended with the rate trading below the 1.3100 level. At the time of writing, the pair was finding support in the 1.3080 level, which was strengthened by the support of the 100-hour simple moving average. Economic Calendar During the last week of January, most
The GBP/USD managed to pass the resistance of the 1.3100 level. On Wednesday, the rate surged to the 1.3150 level, below which it began to trade sideways. In the meantime, the high level 1.3119 of December 17 had begun to provide support. In general, the rate was expected to continue to consolidate by trading sideways between 1.3119 and 1.3150 until
After trading just above technical support levels that are located from 1.3025 to 1.3035, the GBP/USD began to surge and was heading to the 1.3100 level. The 1.3100 level was expected to stop the surge. Moreover, a weekly R1 pivot point was providing resistance at 1.3104. UK Average Earnings Index The British Pound appreciated against the US Dollar, following the UK Average
A surge of the GBP was caused by the better than expected UK employment data. Most impact was done by the UK Average Earnings Index. The data allowed the GBP/USD pair to pass a strong technical resistance cluster. This event was followed by a surge, which had no technical resistance as high as 1.3100. Economic Calendar The week's scheduled event historical data tables
The rate failed to pass the resistance of the 1.3200 level and began a decline, which by the middle of Monday's trading session had touched the 1.2963 level. The rate was expected to consolidate by retracing back up or trading sideways before resuming its decline. UK Retail Sales The British Pound depreciated against the US Dollar, following the UK Retail Sales
During Friday morning, the GBP/USD exchange rate tested the resistance level - the weekly PP at 1.3099. The rate could gain support of 55- and 100-hour SMAs, and re-test the given resistance. UK Retail Sales The British Pound depreciated against the US Dollar, following the UK Retail Sales data release on Friday at 09:30 GMT. The GBP/USD exchange currency rate lost
During Thursday morning, the GBP/USD exchange rate was testing the upper boundary of the medium-term descending channel. From a theoretical perspective, it is likely that a reversal south could occur. Economic Calendar This week's scheduled event historical data tables have been published. Click on the link below to read the article. Read More: 13.01-17.01 Event Historical Reactions GBP/USD short-term review Yesterday, the GBP/USD exchange
During Wednesday morning, the GBP/USD exchange rate was testing the 100-hour moving average. Given that the rate is supported by the 55-hour SMA, it is likely that some upside potential could prevail. Economic Calendar This week's scheduled event historical data tables have been published. Click on the link below to read the article. Read More: 13.01-17.01 Event Historical Reactions GBP/USD short-term review Yesterday, the
During Monday morning, the GBP/USD exchange rate was trading at the weekly S1 at 1.2985. Note that the exchange rate is pressured by the 55-, 100- and 200-hour SMA. Thus, some downside potential could prevail. Economic Calendar Today, the US Consumer Price Indices might cause a minor move on the US Dollar pairs. Meanwhile, this week's scheduled event historical data tables have been published.
During Monday morning, the GBP/USD exchange rate dropped below 1.3020. Note that the exchange rate is pressured by the 55-hour SMA. Thus, some downside potential could prevail. US ISM Non-Manufacturing PMI Automatic Data Processing, Inc. released the US ADP Non-Farm Employment Change data, which came out better-than-expected of 202K compared with the forecast of 160K. The data, as it had done before,
The retracement back up of the GBP/USD met with the resistance of the 55-hour SMA, which stopped the surge on Friday morning near the 1.3090 level. The future forecast scenarios were based upon whether the resistance of the 55-hour SMA holds. US ISM Non-Manufacturing PMI Automatic Data Processing, Inc. released the US ADP Non-Farm Employment Change data, which came out better-than-expected of
During Thursday's morning hours, the GBP/USD dropped to the 1.3020 level, where it found support and began a retracement back up. In the meantime, the pair had broken off the resistance of the 55, 100 and 200-hour simple moving averages and left them above 1.3115. US ISM Non-Manufacturing PMI Automatic Data Processing, Inc. released the US ADP Non-Farm Employment Change data, which
On Wednesday, the GBP/USD passed the support of the 200-hour SMA, which kept it from declining since the middle of Tuesday. This event signalled that a decline of the pair is most likely. Although, by the middle of Wednesday's London trading hours, the pair's decline was stopped by the support of the 1.3100 level. Economic Calendar On Wednesday, the ADP Non-Farm Employment Change
On Tuesday, the GBP/USD reached the 1.3200 level, which it managed to pierce. Namely, for a short period of time the rate traded above the 1.3200 level. In addition, take into account that a channel down pattern has been spotted, connect the December high and low levels to draw it. Economic Calendar This week, data releases will start on Tuesday at 15:00 GMT.
The 200-hour simple moving average provided the GBP/USD with support. The rate fluctuated above the SMA since the middle of Friday. On Monday, the rate bounced off the SMA and surged up to the 1.3060 level, managing to pass three technical resistance levels. Economic Calendar This week, data releases will start on Tuesday at 15:00 GMT. The US ISM Non-Manufacturing PMI will be
The decline of the GBP/USD currency exchange rate has reached the support of the 200-hour SMA. Moreover, the decline was expected to continue. Economic Calendar On Friday, January 3, the ISM Manufacturing PMI survey results will be released at 15:00 GMT. On the same day, the FOMC Meeting Minutes will be published at 19:00 GMT. Next week, data releases will start on
The GBP/USD has been retreating since the start of the year's trading. By the middle of Thursday's London trading hours, it was expected that the pair could reach below the 1.3200 level. Economic Calendar On Friday, January 3, the ISM Manufacturing PMI survey results will be released at 15:00 GMT. At the same day, the FOMC Meeting Minutes data will be published at
During today's morning, the GBP/USD exchange rate was testing the resistance level formed by the monthly R2 at 1.3115. If the given resistance holds, it is likely that the British Pound could depreciate against the US Dollar in the short run. Economic Calendar This week, the are three scheduled events that could impact on the GBP/USD rate. On Tuesday, December 31, the US CB
During today's morning, the GBP/USD exchange rate was testing the 200-hour SMA at 1.3053. If the given moving average holds, it is likely that a reversal south could occur. Otherwise, the rate could continue to extend gains. Economic Calendar This week, there are no events left that could affect the GBP/USD rate. Next week, the are three scheduled events that could impact on the
During the first half of Monday, the GBP/USD exchange rate dropped to the Fibo 38.205 at 1.2918. If the given support level holds, it is likely that a reversal north could occur in the nearest future. Economic Calendar This week, the US Durable Goods Orders on Monday at 13:30 GMT could cause a move. Meanwhile, this week's scheduled event historical data tables