The GBP/USD did not bounce off the upper trend line of a channel up pattern. Instead, it broke the resistance. By the middle of Tuesday's GMT trading hours, the rate had reached above the 1.2550 level. Economic Calendar On Wednesday, June 3, two macroeconomic events from the US are expected: the ADP Non-Farm Employment Change at 12:15 GMT and the ISM Non-manufacturing
On Monday, the GBP/USD currency exchange rate was testing the resistance of a channel up pattern. In the meantime, the rate was supported by the 1.2380 level. Future forecasts were based upon, which of the two mentioned levels would get passed. Economic Calendar Traditionally, the first week of the month is busy on the economic calendar. On Monday, June 1, the Institute
The GBP/USD exchange rate continued to trade within the medium-term ascending channel. During today's morning, the rate touched the 1.2360 level. Economic Calendar Traditionally, the first week of the month is busy on the economic calendar. On Monday, June 1, the Institute for Supply Management will release the US ISM Manufacturing PMI survey results at 14:00 GMT. On Wednesday, June 3, two macroeconomic events
The GBP/USD exchange rate revealed a medium-term ascending channel. From a theoretical perspective, it is likely that some upside potential could prevail in the market. Economic Calendar This week, there is one notable time to watch the economic calendar. Today, a group of various US data sets will be published at 12:30 GMT. Each one of these data sets on their own
During Wednesday morning, the GBP/USD exchange rate reversed north from the support from the weekly R1 and the monthly S1 at 1.2290. It is likely that some upside potential could prevail in the market. Economic Calendar This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be
During Tuesday morning, the GBP/USD exchange rate skyrocketed to the 1.2320 level. Theoretically, it is likely that the rate could gain support from the weekly R1 and the monthly S1 at 1.2290. Economic Calendar This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US data sets will be published. Each one
Since Friday, the GBP/USD exchange rate has been trading sideways in the 1.2180. Given that the rate is pressured by the 55-, 100- and 200-hour SMAs, it is likely that some downside potential could prevail in the market. Economic Calendar This week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various US
The resistance of the SMAs held on Thursday. Moreover, by the middle of Friday's trading, the pair had declined below the 38.20% Fibo at 1.2190. In addition, on Friday, the pair had no technical resistance as low as 1.2000. Economic Calendar Next week, there is one notable time to watch the economic calendar. At 12:30 on Thursday, a group of various
On Thursday morning, the GBP/USD found support in the 38.20% Fibonacci retracement level at the 1.2190 level. By mid-day the rate was testing the combined resistance of the 55 and 200-hour simple moving averages at 1.2240. Future forecasts were based upon what would happen at this level. UK Purchasing Manager's Indices The British Pound traded sideways against the US Dollar, following
Since the start of Monday's GMT trading, the GBP/USD had surged to the pivot point at 1.2292. The rate bounced off this level late on Wednesday and retreated to find support in the cluster of technical levels at 1.2220. On Wednesday, the rate was expected to once again test the resistance of the pivot point at 1.2292. Economic Calendar On Thursday, the
During Tuesday's morning GMT trading hours, the GBP/USD currency exchange rate reached the 1.2260 level. Afterwards, this level began to provide resistance. In regards to the near term future, the rate was set to test the 1.2260, which would be strengthened by the 200-hour SMA. Economic Calendar This week, most macroeconomic data releases that would impact the GBP/USD are expected to come
On Monday, the GBP/USD started the week by opening lower and afterwards surging. By the middle of the day, the pair had reached for the 38.20% Fibo at 1.2190. In the case of the Fibo failing to provide resistance to the surge, the pair could reach for 100-hour SMA and the weekly simple pivot point near 1.2218. Economic Calendar Most macroeconomic data
The GBP/USD exchange rate consolidated near the support level – the Fibo 38.20% at 1.2190. In theory, it is likely that some downside potential could prevail in the market, as the rate could continue to trade within the falling wedge pattern. Economic Calendar Today, the US Retail Sales is being released at 12:30 GMT. Next week, most macroeconomic data releases are
The GBP/USD exchange rate has revealed a falling wedge pattern. In theory, it is likely that some downside potential could prevail in the market, as the rate could trade within the given pattern. Economic Calendar This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, the
The GBP/USD exchange rate remains to be under pressure of the 55-, 100- and 200-hour moving averages. In theory, it is likely that some downside potential could continue to prevail in the market. Economic Calendar This week, monthly US inflation and retail sales data sets are bound to cause notable reactions, as they have done in the past. Namely, the
Yesterday, the GBP/USD exchange rate tested the support level formed by the weekly and monthly S1s at 1.2290. Given that the rate is pressured by the 55- and 100-hour SMAs, it is likely that some downside potential could prevail in the market. Economic Calendar This week, monthly US inflation and retail sales data sets are bound to cause notable reactions,
On Friday, the GBP/USD exchange rate failed to exceed the 200-hour SMA near 1.2450. The given moving average pushed the rate down to the 1.2360 level. Given that the rate is also pressured by the 55- and 100-hour SMAs, it is likely that bears could prevail in the market. Economic Calendar This week, monthly US inflation and retail sales data sets
The lowest level that the GBP/USD reached on Thursday was the 1.2270 level. However, after touching this mark, the rate began a surge, which ended on Friday. By mid-Friday, the rate was squeezed in between the 55 and 100-hour simple moving averages near 1.2365 and 1.2400. Economic Calendar On Friday, the week will end with the employment data release from the
At midnight to Thursday, the GBP/USD found support in the 1.2320 mark. By mid-day the rate had tested the 50.00% Fibo at the 1.2418 level and bounced off it. The high volatility was caused by the Bank of England rate announcement. In the meantime, the pair had pierced the support of the large scale ascending triangle pattern. BoE Monetary Policy
As expected, the GBP/USD has declined. On Wednesday, the pair first reached the 50.00% Fibo at 1.2418 and afterwards dropped down to the weekly S1 simple pivot point at the 1.2360 mark. In the aftermath of the drop, on Wednesday, the rate began to trade sideways. Economic Calendar All attention of GBP traders is expected to be set on the upcoming
On Tuesday, the GBP/USD traded between the support of the 1.2420 and 1.2485 levels. In regards to the near term future, it was more likely that the pair could decline, as it faced two SMAs and a monthly pivot point from 1.2470 to 1.2485. Economic Calendar There are a couple of minor data releases scheduled for the week. On Tuesday, the
On Thursday morning, the GBP/USD exchange rate broke the weekly R1 at 1.2500. Given that the rate is supported by the 55-hour SMA, it is likely that some upside potential could prevail in the market. Economic Calendar On Friday, the US ISM Manufacturing PMI is scheduled to be published at 14:00 GMT. Next week's notable scheduled events are set to start on
On Wednesday morning, the GBP/USD passed the support of the 1.2450 level and the 55-hour simple moving average near 1.2440. In the near term future, the rate was expected to test the 100 and 200-hour SMA support at 1.2400 before declining to a weekly pivot point at 1.2374. Economic Calendar This week starts with the US Advance GDP on Wednesday at
The GBP/USD jumped on Tuesday morning to the 1.2500 mark. At that level the rate met with the resistance of the simple weekly R1 pivot point. The future of the rate depended on whether or not the rate breaks the resistance of the pivot point. Economic Calendar This week starts with the US Advance GDP on Wednesday at 12:30 GMT. This