Despite a surge and breaking of resistance levels at mid-day on Thursday, the GBP/USD has declined. The surge occurred due to the lower than forecast US Core PCE inflation data, which caused a seven-hour surge. However, afterwards the pair resumed to decline. By the middle of Friday's trading, the pair had reached back below 1.2100. Economic Calendar On Friday, note the US
On Thursday morning, the GBP/USD currency exchange rate confirmed the 1.2160/1.2170 zone as resistance and started a decline. By 12:00 GMT, the currency pair had reached below the 1.2100 level and was expected to look for support in the weekly S2 simple pivot point at 1.2085. Economic Calendar On Friday, note the US ISM Manufacturing PMI at 14:00 GMT. GBP/USD short-term review A move
The GBP/USD currency pair has passed below the support of the weekly S1 simple pivot point at 1.2174 and the previous week's low level zone at 1.2160/1.2170. Economic Calendar The pair might react to the Thursday's release of the US Core PCE Price Index at 12:30 GMT. On Friday, note the US ISM Manufacturing PMI at 14:00 GMT. GBP/USD short-term review A continuation of
Despite reaching above the 1.2300 mark, the GBP/USD found resistance in a recent high level zone at 1.2315/1.2330. Meanwhile, support is being found in the 200-hour simple moving average and the weekly simple pivot point at the 1.2250 mark. Economic Calendar On Wednesday, note the Final US Quarterly GDP data. The data release might cause minor reactions on the chart. Later on the
On Monday morning, the GBP/USD currency pair managed to reach above the resistance of the 1.2300 level. The surge occurred, as the rate found support in the combination of the 50 and 100-hour simple moving averages and the weekly simple pivot point near 1.2250. Economic Calendar On Wednesday, note the Final US Quarterly GDP data. The data release might cause minor reactions
The surge of the GBP/USD eventually found resistance in the 1.2400 mark and the weekly simple pivot point. The resistance was strong enough to cause a decline to the 1.2250 level, which acted as support during the early hours of Friday's trading. The high volatility ended on Thursday, as the GBP/USD pair fluctuated around the 1.2250 mark. Economic Calendar Note the UK
In the past 24 hours, the US Federal Reserve hiked 75 base points and the Bank of England hiked its interest rate by 25 points. First of all note the high volatility candles around the events at 18:00 and 12:00 GMT. Secondly, in theory, as the Fed surprises with a larger than expected hike and Bank of England did as
The GBP/USD rate found support in the 1.1940 level, which is 20 base points below the 2019 low level at 1.1960. The event was followed by a surge of the Pound against the US Dollar, which by the middle of the day's European trading hours had reached above the 1.2100 mark and the technical levels, which strengthened it. Above all note
On Tuesday morning, the GBP/USD decline consolidated by retracing back up to the combined resistance of the weekly S1 simple pivot point and the 1.2200 mark. Afterwards, the rate resumed its decline, as before mid-day the pair was already back at the weekly S2 simple pivot point at 1.2100. Economic Calendar On Wednesday, the US Retail Sales and Core Retail Sales is
During the mid-day in London, the GBP/USD currency exchange rate's decline plummeted below the 1.2200 level. Earlier during the day, the pair passed the 2020 July low level at 1.2260. The ongoing broad decline was caused by the strengthening of the US Dollar. The US Dollar has been sharply surging in value due to the higher than expected US inflation data,
On Thursday morning, the GBP/USD rate found support in the 1.2500 mark and recovered, until resistance was found in the 50-hour simple moving average at 1.2550. Economic Calendar On Friday, the US Consumer Price Index release at 12:30 GMT is set to impact all financial markets through the value of the USD. GBP/USD short-term review A move of the Pound down against the US
Despite piercing the 1.2460/1.2480 zone's support, the GBP/USD recovered on Tuesday. During the late hours of the day's trading, the pair encountered resistance in the 1.2600 mark. By the middle of Wednesday's trading, the pair had declined below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2535/1.2565. Economic Calendar On Friday, the US Consumer Price
On Monday, the 1.2460/1.2480 zone once again acted as support, as the GBP/USD surged to the resistance of the 200-hour simple moving average near 1.2575. Economic Calendar On Friday, the US Consumer Price Index release at 12:30 GMT is set to impact all financial markets through the value of the USD. GBP/USD short-term review If the Pound manages to reach above the 200-hour simple
The GBP/USD found enough support in the 1.2460/1.2480 zone on Thursday to sharply surge up to the weekly simple pivot point at 1.2588. The pivot point acted as resistance and caused a decline to the 1.2520 level. At mid-day on Friday, the pair was highly volatile between the support of the 50-hour simple moving average near 1.2540 and the resistance
At mid-day on Wednesday, the GBP/USD currency pair passed below the support of the 200-hour simple moving average. The event indicated that the pair could reach new low levels. However, support was almost immediately found in the 1.2560 mark. Economic Calendar This week, traders will be initially looking at the ISM Manufacturing Purchasing Managers Index survey results on Wednesday at 14:00 GMT.
Since mid-Thursday, the GBP/USD has been pushed up by the support of the 50-hour simple moving average. During the push upwards, the rate appears to have encountered resistance near 1.2650/1.2660. Economic Calendar This week, traders will be initially looking at the ISM Manufacturing Purchasing Managers Index survey results on Wednesday at 14:00 GMT. The publication is set to reveal how the US
On Thursday, the GBP/USD rate continued to find support in the 1.2555/1.2560 zone and resistance in the May high level zone at 1.2600/1.2640. At midnight to Friday GMT timezone, the May high level zone failed to hold and the pair surged to the 1.2665 level, which is a new monthly high. However, after reaching the high level, the pair appeared to
The GBP/USD ended its sideways trading by breaking the resistance zone at 1.2555/1.2560. Afterwards, the pair tested the resistance of the May high level zone at 1.2600/1.2640. By the middle of Thursday's European trading hours, the pair had returned to the 1.2555/1.2560 level and appeared to be confirming it as support. Economic Calendar On Thursday, the US quarterly Preliminary GDP data at
The markets appear to have taken in the information about the UK market, which was given by the UK PMIs and caused the drop on Tuesday. It is assumed because the GBP/USD has revealed support and resistance zones. Support zone is located at 1.2472/1.2480. Meanwhile, resistance is at 1.2555/1.2560. Economic Calendar On Wednesday, the rate is bound to move due to the
On Tuesday, at 08:30 GMT, the GBP/USD plummeted because of the publication of the Markit Flash Manufacturing and Services Purchasing Managers Index survey results. The Pound lost value due to the revelation that the Services PMI was at 51.8 instead of the forecast 56.9. At mid-day, the rate's decline had paused, as the pair found support in the 100-hour simple moving
The GBP/USD found enough support in the 100-hour simple moving average to start a surge. The surge eventually reached the 1.2500 mark and the rate traded near the level, before a surge above the 1.2500 started on Monday morning. By the middle of the day's trading, the 1.2600 mark had been tested. Economic Calendar On Wednesday, the rate is bound to move
The decline of the Pound against the US Dollar found initially pierced the support of the 1.2350 mark, but the additional support from the 100-hour simple moving average was enough to push the pair up into the resistance of the 1.2400 level. On Thursday morning, the pair was expected to get squeezed into the 1.2400 level by the ascending 100-hour
After testing the resistance of the 1.2500 level for almost 24 hours, the GBP/USD failed. The event was caused by the release of the 9.00% year on year inflation being confirmed in the United Kingdom. The event resulted in a sharp decline to the 1.2375 level. During the decline, the currency pair passed below the support zone at 1.2400/1.2424, the weekly
A broad decline of the US Dollar's value has resulted on the GBP/USD charts in a surge up to the 1.2500 mark. The 1.2500 level appeared to be acting as resistance at mid-day on Tuesday. Economic Calendar On Wednesday, at 06:00 GMT, the UK Consumer Price Index data will reveal how inflation had changed in the UK during April. To see historical move