The traders, which went long on the expectations of a surge to the 1.2300 mark, where surprised on Friday morning. The GBP/USD had reached the 1.2500 level. Moreover, if trailing stop losses had been set properly, the whole move of approximately 250 pips could have been captured. Economic Calendar This week data releases are over. Next week, there will be many UK
By the middle of Thursday's London trading, the GBP/USD remained near previous day's trading levels. Although, the pair broke the resistance of the weekly S1 and the 55-hour simple moving average near 1.2230. Due to that reason another surge to the resistance levels below 1.2300 was expected. Economic Calendar On Thursday, the US CPI will be released at 12:30 GMT. The event has
During today's morning, the GBP/USD exchange rate tried to surpass the 1.2260 level. Note that the rate is pressured by the 55-, 100- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. Economic Calendar Today, the US Federal Reserve Meeting Minutes are set to be published at 18:00 GMT. Since February the event has caused
The technical levels just above the 1.2300 mark eventually beat down the GBP/USD currency rate. On Tuesday morning, the rate had already reached the 1.2240 level. Moreover, the decline in theory was expected to reach the 1.2228 level, where the S1 of the weekly simple pivot points was located at. Economic Calendar On Tuesday the US PPI release at 12:30 GMT could cause
On Monday morning, the GBP/USD declined below technical levels that surrounded the 1.2320 mark. Future scenarios were built around what would happen near that level. US Employment Data The Bureau of Labor Statistics released the US Unemployment Rate data, which came out better-than-expected of 3.5% compared with the forecast of 3.7%. According to the official release: "In September, the unemployment rate declined by
The first scenario laid out on Thursday became reality, as the rate pierced the resistance of the late September channel down pattern and reached the resistance levels at 1.2350. Moreover, the rate touched the 1.2415 level before retreating back down. On Friday morning, the rate was trading sideways below a weekly pivot point that was located at the 1.2356 level. In
On Thursday morning, the GBP/USD was piercing the upper trend line of the channel down pattern, which had guided the rate down since September 20. The short-term future forecast were based on what would happen at the trend line. US ISM Manufacturing PMI The Institute for Supply Management released the US ISM Manufacturing PMI survey data results, which came out worse-than-expected of 47.8
On Tuesday, The GBP/USD reached the support of the weekly S1 and the lower trend line of a channel down pattern on Monday. However, the decline was quickly reversed by a US fundamental survey result release. On Wednesday, the rate was once more heading to the support of the weekly S1 at 1.2209. US ISM Manufacturing PMI The Institute for Supply Management released
In general, the GBP/USD has traded sideways since Monday morning. Although, the rate had shortly touched the low level of 1.2260 on Tuesday morning. In the near future, the rate was expected to face the resistance of the 100-hour simple moving average, which was approaching the pair from above. Economic Calendar This week, there are a couple of US macroeconomic data releases, which
On Monday morning, the GBP/USD made an attempt to surge above the 1.2330 level and failed at it. In general, the rate traded near Friday's levels. The rate was expected to either consolidate or decline. Meanwhile, Swiss traders had gone long on the pair.Economic Calendar This week, there are a couple of US macroeconomic data releases, which might impact the rate. On Tuesday,
On Friday morning, the support of the 1.2300 levels was passed. The GBP/USD had no technical support level as low as 1.2200. However, the 1.2250 mark could provide psychological support, as round levels have played a significant role on the GBP/USD charts. Economic Calendar The week will end with the US Durable Goods Orders data release at 12:30 GMT. The event will consist
As forecast, the GBP/USD has declined. During the early hours of Thursday's London trading session the GBP/USD currency exchange rate had reached support levels near 1.2300. If the rate would manage to pass the technical levels near 1.2300 and the psychological support of the round level, it could decline as low as the 1.2200 mark without finding any support. Economic Calendar On Thursday,
On Wednesday morning, the GBP/USD exchange rate was testing the lower boundary of the medium-term ascending channel. Given that the rate is pressured by the 55-, 100- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. British Pound appreciates on Supreme Court's decision On Tuesday, September 24, the British Pound appreciated 75 pips or 0.60% against
On Tuesday, the GBP/USD movements were being dictated by the Supreme Court of the United Kingdom. It was set to rule on the suspension of the Parliament done by the Prime Minister Boris Johnson. Meanwhile, note that just before 12:00 GMT the rate bounced and began a surge, which was consistent with an ascending channel pattern. Economic Calendar On Thursday, the US Final
The GBP/USD on Monday continued the decline, which began on Friday. During the morning London trading hours the rate had reached the support of the 200-hour simple moving average. If the rate would pass this support, the decline could soon reach the 1.2400 level. Economic Calendar Next week on Thursday, the US Final GDP will be published at 12:30 GMT. This event has
Bank of England was the cause of a surge, which was previously expected from a technical perspective. By the middle of Friday's trading the GBP/USD had reached and bounced off the resistance of the 23.60% Fibonacci retracement level at 1.2573. Economic Calendar Next week on Thursday, the US Final GDP will be published at 12:30 GMT. This event has caused moves on
On Thursday morning, the GBP/USD remained near the previous trading levels. Meanwhile, take into account that it was approached by the technical support of the 55 and 100-hour simple moving averages. From a technical analysis perspective the GBP/USD should surge. However, the Bank of England was about to make a monetary policy statement. Economic Calendar The BoE Monetary Policy Statement and the Official
The 100-hour SMA provided the needed support for the rate to once more test the resistance of the 1.2520 level. By the middle of Wednesday's trading, the rate had bounced off the high level and declined back down to the support of the 55 and 100-hour SMAs and a monthly pivot point near 1.2440. Economic Calendar The FOMC Statement and the Federal Fund
As expected, the GBP/USD reached down to the hourly simple moving averages. On Tuesday morning, the GBP/USD had reached the 100-hour SMA at 1.2390. The near term future depended on what will happen at the SMA. Either a decline down to 1.2360 could take place or a recovery. Economic Calendar On Wednesday, September 18, the UK CPI data will be published at 8:30
The surge of the GBP/USD almost touched the 1.2500, as it reversed. Namely, by the middle of Monday's trading session the rate had touched the low level of 1.2425. In general, the rate was expected to wait for the hourly simple moving averages or decline down to them. Economic Calendar On Wednesday, September 18, the UK CPI data will be published at 8:30
During today's morning, the GBP/USD exchange rate surged to the 1.2450 level. Note that the rate is testing the resistance level formed by the weekly R1 and the monthly R2. Thus, a reversal south could occur. Economic Calendar Today, the US Retail Sales data will be published at 12:30 GMT. Last time, the GBP/USD exchange rate moved for almost 19 pips. Next week there
The GBP/USD exchange rate has been consolidating near the monthly R1 at 1.2314 since Wednesday. If the given support level holds, the rate could reverse north in the short run. However, note that the British Pound is under pressure, as the Brexit crisis is escalating. Economic Calendar This week there are couple data releases from the US that could move the GBP/USD
The rate's second attempt to pass the resistance of the 1.2380 level failed on Tuesday. Although, another attempt was about to take place on Wednesday morning. In general, the rate was being pushed up by the support of the 55-hour simple moving average, which strengthened the 1.2340 level. If the rate passes the 1.2380 mark, it could surge up to the
The GBP/USD tested the resistance of the 1.2350 level on Monday, as it was expected. Moreover, the resistance was broken, and the rate touched the 1.2380 level. On Tuesday morning, the rate had traded sideways above the 1.2340 level before beginning a surge. In theory, the rate could surge up to the weekly R1 of the simple pivot points at 1.2445. UK