On Friday morning the GBP/USD touched the upper trend line of the descending channel pattern of the hourly candle chart. The event resulted in a decline, which needed to pass the support of an hourly simple moving average for the rate to drop once more to 1.2600. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK
The decline of the GBP/USD has reached new low level. The 1.2610 level was reached on Thursday. The rate was consolidating after reaching the low level. It was expected that the decline will resume once the 55 and 100-hour simple moving averages approach the pair from above. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK
After the sharp move up and decline on Tuesday, the GBP/USD resumed its decline on Wednesday and reached a new low level. In general, the decline was expected to continue, as the pair had no close by technical support levels. However, take into account that the pair might trade sideways until the release of the FOMC Meeting Minutes at 18:00 GMT. Latest
GBP/USD continued its decline down to the 1.2700 level on Tuesday. However, the decline might have be at its end, as the 1.2700 level provided strong psychological support to the currency exchange rate. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Employment data set release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate
The decline of the GBP/USD continues gradually. The target remains the same – the 1.2720 level is aimed at. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Employment data set release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate lost 6 pips or 0.05% right after the release. The British Pound continued trading
The GBP/USD has continued to decline on Thursday. By the middle of Thursday's London trading session the rate had fallen below the 1.2820 level. From a technical analysis theoretical perspective the rate was expected to decline down to the 1.2720 level, as the closest technical support level was located there. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following
The GBP/USD fell down to the 1.2920 level by the middle of Tuesday's trading session. In general, the pair faced a cluster of support from 1.2920 to 1.2940. If this cluster fails, a decline down to 1.2870 should occur. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data release on Friday at 08:30 GMT. The
The GBP/USD has continued to trade above the 1.3000 level despite the descending channel pattern, which was expected to guide the rate down. On Monday, the pair's short term charts were reviewed. Latest Fundamental Event The British Pound depreciated against the US Dollar, following the UK GDP data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 17 pips or
On Friday, on the hourly chart of the GBP/USD a descending channel pattern was discovered, which is expected to guide the rate down to the 1.2940 level. Meanwhile, take into account that the 55-hour SMA was strengthening the resistance of the channel down pattern's upper trend line. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to
The GBP/USD has remained in the range between the 1.3000 and the 1.3020 levels. The pair has consolidated its position after the recent decline. In general, the rate was expected to decline as soon as the hourly candle chart's simple moving averages approach it from above and push it down. In that case the 1.2940 level would be targeted. Latest Fundamental Event On
After reaching above the previously set target of 1.3160 and touching the 1.3180 level, the GBP/USD dropped. By the middle of Wednesday's trading session, the rate had reached down to the 1.3000 level. The future short term forecasts were based on what happens at that level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold
As expected, the GBP/USD reached the support of the weekly pivot point at 1.3089. It bounced off it as soon as the 55-hour simple moving average approached from below and provided additional support. The rate began a surge, which on Tuesday was expected to reach the 1.3160 level. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted
Brexit volatility is back on the GBP/USD charts. Namely, the UK's political parties are negotiating and quarrelling among themselves. In general, the hourly chart's patterns were broken. The future forecast is described below. Latest Fundamental Event On Thursday, May 2, the Bank of England Monetary Policy Committee voted to hold the Bank Rate unchanged at 0.75%. According to the Bank of England Inflation
On Friday, GBP/USD signalled that it will drop down to the 1.2970 level. Namely, the rate passed the support levels near 1.3000 level. At the 1.2970 level the currency exchange rate was expected to meet with the support of the 200-hour simple moving average. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Official Bank Rate release on
Before the drop that was caused by the FOMC, the GBP/USD reached the 1.3100 level. By the middle of Thursday's trading session the pair managed to find support in the monthly pivot point and the 55-hour simple moving average near 1.3030. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD exchange
As expected, the GBP/USD has reached the 1.3000 level. Moreover, it has surged above it and was just below the 1.3080 level on Wednesday morning. At the 1.3000 level the rate will reach the resistance of a large scale descending channel and the weekly R1. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release.
On Tuesday morning the GBP/USD broke the resistance of the 200-hour simple moving average and began a surge, which was expected to reach 1.3000. At the 1.3000 level the rate will reach the resistance of a large scale descending channel and the weekly R1. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The
The GBP/USD was surging on Monday, as the rate pierced through the resistance cluster near the 1.2940 level. It is expected that the surge will continue and eventually the pair should reach the 1.2960 level, where it would meet with the 200-hour SMA. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release. The GBP/USD
On Friday morning, the GBP/USD exchange rate was testing the 55-hour SMA located at the 1.2910 mark. If the given resistance does not hold, it is likely, that the rate rises to the 100-hour SMA located circa 1.2940. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30 GMT. The GBP/USD
On Thursday morning, the GBP/USD exchange rate was testing the lower boundary of the falling wedge pattern located circa 1.2880. If the given pattern does not hold, it is expected that the rate decline to the monthly S1 at 1.2872. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30
On Wednesday morning, the GBP/USD rate was testing the lower boundary of the falling wedge pattern located circa 1.2930. It is expected, that the rate could reverse north from the given boundary and target the 55- and 100-hour moving averages located circa 1.2980. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on
On Tuesday morning the GBP/USD was testing the resistance of the 1.3000 level. It was expected that the rate will fail to surge, as additional technical resistance was about to be provided by the 100-hour simple moving average. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 8:30 GMT. The
Bad German PMI data caused a spillover decline that affected the GBP/USD and forced it into breaking the support of an ascending pattern. By the middle of Friday's trading the rate had recovered from dropping down to the 1.2980 level and was testing the resistance of 1.3000. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Retail Sales
The GBP/USD has traded sideways during the last 24 hours. The rate has been waiting for additional technical support to be pushed down. On Thursday, the 55-hour simple moving average approached the rate. This event caused a decline below the support of the 1.3030 level, which signalled a continuation of the fall of the GBP/USD. Latest Fundamental Event The British Pound depreciated against