On Monday, the GBP/USD dropped down to the 1.2640 level due to the strength of the USD. Namely, the renewal of US-China trade talks resulted in a surge of the US Dollar. Latest Fundamental Event Report The British Pound traded sideways against the US Dollar, following the UK Current Account data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate gained
On Friday morning, the GBP/USD exchange rate reversed north from the support level formed by the 200-hour SMA and the weekly PP at 1.2669. The rate could maintain its growth in the short term. However, note, that the currency pair is pressured by the 100-hour SMA at 1.2703. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK
On Thursday morning, the GBP/USD traded below the 1.2700 level. The rate had continued to fluctuate between the support of the weekly pivot point at 1.2669 and the psychological resistance of 1.2700. In general, the rate was expected to get squeezed in between the support of the mentioned pivot point and the 200-hour simple moving average and the resistance of
After a short lived piercing of the 1.2760 level the GBP/USD began a decline, which on Wednesday had reached the 1.2669 level. At that level it met with the support of a weekly pivot point. The future forecasts were based on what will happen at the pivot point. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following
On Tuesday morning, the GBP/USD was testing the resistance of the 1.2760 level. In general, the rate was expected to pass this level sooner or later. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary and Official Bank Rate data releases on Thursday at 11:00 GMT. The GBP/CAD exchange currency rate lost 29
On Monday morning, the GBP/USD was testing the resistance of a historical high level at 1.2760. In general, the favoured forecast was that the 55-hour simple moving average will push the rate through this level to face the resistance of a monthly pivot point at 1.2792. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK Monetary
On Friday morning, the GBP/USD made another attempt to pass the resistance line of a large scale descending pattern, and it failed at it. This event was followed by a decline, which by the middle of the day was aiming at a technical support cluster at 1.2645. Latest Fundamental Event Report The British Pound depreciated against the US Dollar, following the UK
A decline in the value of the USD that was caused by the Federal Reserve has pushed the GBP/USD up to the resistance of a large scale descending pattern. The resistance of the channel down pattern was located at the 1.2720 level. The future forecasts are based on what happens at this level. Latest Fundamental Event Report The British Pound appreciated against
The GBP/USD is surging in accordance with the technical patterns. Namely, it broke the resistance of a junior pattern due to finding support in the lower trend line of a larger pattern. On Wednesday, the currency exchange rate was approaching the resistance of the 100-hour simple moving average, which was located just below 1.2600. Latest Fundamental Event The British Pound depreciated against
The GBP/USD resumed to decline in the second half of Monday's London trading, as expected. On Tuesday morning, the currency exchange rate had reached a pivot point's support level at 1.2528. The rate's short term future had two possibilities that are described below. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release
On Monday, the GBP/USD traded sideways between the 1.2580 and 1.2600 levels. The pair was consolidating and waiting for the resistance of the hourly simple moving averages before resuming its decline. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data set release on Monday at 08:30 GMT. The GBP/USD exchange currency rate lost 17
The GBP/USD exchange rate has reached the psychological level at 1.2670. Given, that the British Pound is under pressure due to concerns about a leadership contest in the Conservative party, it is likely, that the rate could maintain its decline. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release
During Wednesday's morning, the GBP/USD currency pair reached the upper boundary of the short-term descending channel at 1.2740. From the theoretical perspective, it is likely, that a reversal south occurs soon. Otherwise, the pair could maintain its growth. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30
The GBP/USD currency pair has been trading sideways between the 55-, 100- and 200-hour moving averages since yesterday. If the given moving averages hold, it is expected, that the pair could continue to trade sideways. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30 GMT. The GBP/USD
GBP/USD has been making attempts to pass the resistance of an upper trend line of a channel down pattern and a pivot point near 1.2740. By the middle of Friday's trading session a third attempt was in progress. Watch the trend line and the pivot point for signals of the future of the pair's direction. Latest Fundamental Event Institute for Supply Management
By the middle of Thursday's London trading session the GBP/USD was trading between simple moving averages below the 1.2700 level. In general, our hourly candle chart analyst states that the rate most likely could trade sideways in the near term future. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected of 56.9 compared
The GBP/USD on Wednesday was continuing the previously started surge. The rate was still aiming at the resistance pf the pivot point at 1.2735. At that level the rate is expected to wait for the support of the approaching simple moving averages. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came out in
The GBP/USD has broken the resistance of the 200-hour simple moving average. Due to that reason it has no technical resistance as high as the 1.2735 level. At that level the rate would meet the first resistance of the simple weekly pivot points. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came
The surge of the GBP/USD was stopped by the resistance of the 200-hour simple moving average at 1.2660. The rate made a couple of attempts at passing it before it plummeted down to the 1.2615 mark. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with expectations of 3.1%. According to the official release:
The GBP/USD has broken the resistance of the descending channel pattern, which guided it lower for the most part of May. Although, before surging and breaking the resistance of the pattern the rate reached a new low level by shortly reaching below the 1.2590 level. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in
As expected, the hourly simple moving averages have pushed the GBP/USD into reaching a new low level. Namely, the rate has been pushed into trading between the 1.2620 and 1.2640 levels. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 5
The GBP/USD continues on its way down to the support level at 1.2609. The rate is expected to trade sideways from time to time until the 55 and 100-hour simple moving averages approach and push the rate down. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT.
The previously described technical support levels did not held ground, as it was expected. The GBP/USD has no technical support level as low as the weekly S1 at the 1.2609 level. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost
On Monday morning, in the aftermath of reaching the 1.2740 level the GBP/USD dropped suddenly down to the 1.2680 level. Moreover, it could be observed that, if the 1.2680 does not hold, the rate will have no technical support as low as 1.2609. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release