In the aftermath of the Bank of England rate hike, the GBP/USD has declined. On Monday, the currency pair reached below the 1.3500 mark and touched the 200-hour simple moving average near 1.3490. Meanwhile, resistance was being provided by the 100-hour simple moving average near 1.3550. Economic Calendar On Thursday, the publication of the US Consumer Price Index and US Core
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening. On the release, the GBP/USD suddenly dropped by 23 base points or 0.17%,
The surge of the GBP/USD currency exchange rate has reached above the 1.3550 mark. In general, it was initially seen that the pair has no technical resistance as high as the weekly R2 simple pivot point at 1.3650. Meanwhile, it was expected that the 1.3600 mark could act as resistance. Economic Calendar On Thursday, the Bank of England will release its
At mid-day on Tuesday, the GBP/USD currency exchange rate passed the resistance of the 1.3500 mark and shortly fluctuated above this level. Afterwards, the pair retraced to the 1.3480 mark. Economic Calendar On Tuesday, the US ISM Manufacturing Purchasing Managers Index release at 15:00 GMT could cause USD moves. On Wednesday, at 13:15 GMT, the US ADP Non-Farm Employment Change is set
The GBP/USD pair touched the 1.3450 mark at mid-day on Monday. However, the round exchange rate level acted as resistance and caused a retracement to the 1.3400 level and the 50-hour simple moving average. In the meantime, some resistance was being provided by the 100-hour simple moving average and the weekly simple pivot point near 1.3440. Economic Calendar On Tuesday, the
Since mid-Thursday, the GBP/USD has been trading above the support of the 1.3360/1.3375 zone. At mid-day on Friday, the pair bounced off the support zone and suddenly surged to the 50-hour simple moving average at 1.3425. Economic Calendar GBP/USD short-term review A move above the 50-hour simple moving average could find resistance in the combination of the weekly S2 simple pivot point
On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency. On the GBP/USD charts, by mid-Thursday, the event had resulted in the crashing of
The GBP/USD has been declining in a broad channel down pattern since January 13. Meanwhile, the rate has made sharper moves down in a junior pattern since January 20. Future forecasts were based upon whether the junior pattern holds. Economic Calendar Note that the market participants were expecting the US Federal Reserve announcements on Wednesday at 19:00 GMT. GBP/USD short-term review A
The GBP/USD currency exchange rate has been trading between the 1.3700 and 1.3750 levels since the US CPI surge. Most recently, on Friday the rate was approached by the 50-hour simple moving average. Meanwhile, the pair almost in all cases ignored the support of the weekly R2 simple pivot point at 1.3709. Economic Calendar The week will end with the US
The surge of the GBP/USD that was caused by the US Consumer Price Index release has reached the 1.3750 level's resistance. The round exchange rate level forced the pair into a retracement back down just before mid-day on Thursday. The consolidating decline appeared to be finding support in Wednesday's high level at 1.3715. Economic Calendar The week will end with the
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. The GBP/USD currency exchange rate reacted by sharply moving to the 1.3680 mark, which at 14:00 GMT appeared to have stopped the jump. Economic Calendar On Thursday, at 13:30 GMT, the US Producers Price Index and Core Producers
On Tuesday, the GBP/USD currency exchange rate managed to pass the resistance of the 1.3600 mark. However, almost immediately resistance was provided by the 1.3620 level. The resistance held and a minor decline occurred. By the start of Tuesday's US trading hours the pair had retraced to the 100-hour simple moving average near 1.3560. Economic Calendar The top data set of
On Monday morning, the GBP/USD currency pair tested the resistance of the 1.3600 mark. By the middle of the day's European trading hours, the pair had bounced off the resistance and returned to levels near 1.3550. Near the 1.3550 mark, the rate might find support in the 100-hour simple moving average and the weekly simple pivot point at 1.3542. Economic Calendar The
The release of the US monthly employment data at 13:30 GMT on Friday increased volatility on all pairs and assets that involve the US Dollar. During the volatility, the currency pair pierced the resistance of the 1.3550/1.3560 zone. Economic Calendar There are no more notable events set for this week. Next week's review is scheduled for Monday. GBP/USD short-term review If the GBP/USD
The surge of the GBP/USD was testing the resistance of the 1.3600 mark, as the US Fed Meeting Minutes caused a drop back to the 1.3500 level. By late Thursday trading hours, the rate had recovered and made an attempt to pass the 1.3560 level, before retreating below 1.3550. Economic Calendar The most notable event of the week will be the
Starting from Tuesday up to the middle of Wednesday's trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT. However, some might argue
On Tuesday, the GBP/USD surged and reached for the resistance of the December 31 high level at 1.3550. The rate reached the 1.3550 level in the aftermath of finding support in the 200-hour simple moving average near 1.3440. Economic Calendar The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30
Since the middle of December 23, the GBP/USD currency exchange rate has been trading sideways between the 1.3400 mark and a resistance zone above 1.3420. The sideways trading could be explained by the lack of direction caused by the holiday season. Economic Calendar The week before New Year's has no notable scheduled events. Expect the review of the first week of
It took the GBP/USD currency exchange rate 15 hours of testing resistance and trading flat below the previous December high level zone at 1.3365, before the high level failed. By the middle of Thursday's GMT trading, the pair had already reached the 1.3435 level. Moreover, the GBP faced no resistance against the USD as high as the 1.3468 level. Economic Calendar On
The GBP/USD currency exchange rate has continued to move higher. At mid-day on Wednesday, the rate left below it the hourly simple moving averages, the weekly simple pivot point and the high level resistance zone near 1.3280. By 12:00 GMT, the GBP had reached the 1.3320 mark against the USD. Economic Calendar On Wednesday, at 13:30 GMT, the US Dollar might
Since mid-Monday's trading, the GBP/USD bounced off the resistance of the 200-hour simple moving average, retraced and found support in the 1.3200 mark and succeeded to pass the 200-hour SMA. At mid-day on Tuesday, the pair had reached the 1.3260 level, where the GBP/USD faced the resistance of the 100-hour SMA and the weekly simple pivot point. Economic Calendar On Wednesday,
The GBP/USD currency exchange rate was recovering on Monday, as the pair found support in the December low level zone at 1.3162/1.3175. By the middle of Monday's trading, the rate had reached the resistance of the 200-hour simple moving average at 1.3240. Economic Calendar On Wednesday, at 13:30 GMT, the US Dollar might react to the publication of the US Final
The GBP/USD jumped on Thursday due to the unexpected Bank of England rate hike at 12:00 GMT. The rate's jump stopped at the weekly R2 simple pivot point at 1.3371. The event was followed by a decline, which on Friday found support in the 50-hour simple moving average and the December high level zone at 1.3277/1.3288. On December 16, the
The GBP/USD bounced off the resistance of the high level zone near 1.3280 on Thursday. Afterwards, at 19:00 GMT on the same day, the pair reacted to the US Fed Statement by piercing the recent low level connecting trend line and shortly trading below 1.3180. However, as it was clear that despite a decrease monetary USD stimulus would remain intact,