The GBP/USD has reached the 1.3060 level, beating Tuesday's expectations. The next target for the surge was the 1.3100 level, which was expected to be reached after a period of sideways trading. At that level the rate should meet with a combination of pivot points and the psychological resistance of the 1.3100 level. Fundamentals Crash US Dollar Since Monday, December 2, the
The GBP/USD has surged to new high levels and even pierced the 1.3000 level. The surge was cause by various fundamentals. Among them was the weakness caused by US trade tariffs, a trade dispute with the EU, Cuban retailers moving away from using the USD and lower than expected US ISM Manufacturing PMI survey results. Economic Calendar This week the rate might
On Monday, the GBP/USD found support in a cluster of technical levels just below the 1.2900 mark and began a surge. By the middle of the day, the surge was expected to reach the 1.2950 level. At that level, the pair should encounter the psychological resistance, which stopped the rate's last week's surge. Economic Calendar This week the rate might get impacted by
On Friday, the GBP/USD retreated to the last technical support level that it has above the 1.2780 level. Namely, the weekly pivot point at 1.2883. If the rate passes this level on Friday, a sharp decline could start. However, take into account that our analysts spotted a trend line, which could slow down a fall of the rate near the 1.2850
In the second half of Thursday's London trading session, the GBP/USD traded above the support of the 200-hour simple moving average at 1.2905. In general, the rate was expected to surge as soon as the additional technical support of the 55 and 100-hour simple moving averages approaches the pair from below. Economic Calendar This week there are no more data releases, which might
By the time the GBP/USD Trading Idea publication was made, the second scenario of the morning GBP/USD Technical Analysis article became reality. The pair broke the upper trend line of a channel down pattern. By the middle of Wednesday's London Trading session, the rate had also surged above technical levels that were located near 1.2880. Economic Calendar This week there are no
On Tuesday, the GBP/USD declined below the hourly simple moving averages and the weekly pivot point. As a result of the decline, the rate had no technical support as low as the 1.2780 level However, note that the pair might find psychological support in the 1.2850 and 1.2800 levels. Economic Calendar The pair could be slightly impacted by the US publications on Wednesday. At
Despite previous expectations and historical data showing the opposite, the GBP was impacted by Markit UK Purchasing Manager's Indices. The data revealed that the UK firms are even more pessimistic than it was previously thought. The publication of the survey results caused a sharp drop of the rate, which went through the support of the 200-hour SMA. The decline was
The GBP/USD did not follow technical levels on Wednesday, as it surged breaking various technical levels. By the middle of Thursday's trading, the exchange rate had touched the 1.2950 levels. If the surge would continue, it would test resistance at 1.2956 and 1.2974. Economic Calendar There are no more events scheduled for this week that might impact the GBP/USD. The week's reaction tables have
The GBP/UD has declined. By the middle of Wednesday's trading, the currency exchange rate had touched the 1.2888 level. The rate was likely to continue the decline, as the closest by technical support levels were located above the 1.2870 level. Economic Calendar This week, the GBP/USD is expected to be impacted by one event. On Wednesday, the FOMC Meeting Minutes are set to be
On Tuesday, GBP/USD changed its direction and dropped to the support of the 55-hour simple moving average at 1.2930. Future forecasts were based upon what would happen at the simple moving average. Economic Calendar This week, the GBP/USD is expected to be impacted by one event. On Wednesday, the FOMC Meeting Minutes are set to be published at 19:00 GMT. Since April, the rate
The breaking of the resistance of the 200-hour SMA resulted in the GBP/USD almost reaching the 1.2890 level. By the middle of Friday's trading the rate had retreated from this level and fluctuated in a 20 pip range without any support or technical levels keeping it in certain borders. UK Consumer Price Index The British Pound traded sideways against the US Dollar,
On Thursday, the GBP/USD signalled that the rate has ended its volatile sideways trading by breaking the resistance of the 200-hour simple moving average. If a surge follows, the rate should reach for the resistance of the weekly R1 of the simple pivot points at 1.2895. Pound Appreciated on UK Election News During Monday, November 11, the British Pound appreciated 73 pips
On Wednesday, the GBP/USD rate remained near the support levels, where it had been located on Tuesday morning. Note that the rate had made a failed attempt to surge, which was stopped by the 200-hour simple moving average. In general, yesterday's forecast was still valid. It was dependant on what would happen at the 1.2830 level. Pound Appreciated on UK Election
Brexit news caused another spike in the GBP/USD charts. A report on the event will be published in the near term future.Although, the move could have been caught, as the rate broke the resistance of a channel down pattern just before the surge. It signalled that a surge is set to occur. However, by the middle of Tuesday's trading the currency
The GBP/USD started the week higher and retraced back up to the 55-hour simple moving average. The same SMA, which pushed the rate down last week. The rate was expected to be pushed down by it once again. UK Monetary Policy The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Thursday at 12:00 GMT. The
On Friday, the GBP/USD continued to consolidate by trading sideways near the 1.2820 level. The rate was expected to end the week trading sideways and make a move on Monday. UK Monetary Policy The British Pound depreciated against the US Dollar, following the UK Monetary Policy Summary release on Thursday at 12:00 GMT. The GBP/USD exchange currency rate lost 42 pips or
On Wednesday, the 55-hour SMA pushed down the GBP/USD, as it was expected. Although, on Thursday, the currency exchange rate had found support in a pivot point at 1.2842 and surged back up to the SMA at 1.2874. The future forecasts were based on what would occur at the SMA. Economic Calendar Main attention this week will be set on the Bank of
The GBP/USD has traded almost sideways during this week. Namely, it has remained near the 1.2880 level. In regards to the near term future, the rate is expected to be pushed down by the 55-hour SMA. Moreover, the move would be consistent with the newly discovered channel down pattern. US ISM Non-Manufacturing PMI The Institute for Supply Management (ISM) released the
The decline of the GBP/USD has reached below the 1.2900 level. Namely, the 1.2880 level was touched on Monday afternoon. On Tuesday, the currency exchange rate found support in that level and surged back up to the 1.2900 mark, which began to provide resistance. Economic Calendar Main attention this week will be set on the Bank of England rate announcement. The rate
The GBP/USD has passed the support of the 55-hour SMA and broken an ascending pattern. By the middle of Monday's trading the rate had reached technical support levels that were located just above the 1.2910 level. US ISM Manufacturing PMI The Institute for Supply Management (ISM) released the US ISM Manufacturing PMI survey results, which came out worse-than-expected of 48.3 compared with
The resistance of the weekly R1 of the simple pivot points at 1.2970 has continued to keep the GBP/USD rate down. In general, the rate was expected to remain unchanged until the 55-hour SMA and the lower trend line of an ascending channel pattern are reached. FOMC Statement and Federal Funds Rate The Federal Reserve released the US Federal Funds Rate data,
The momentum created by the Federal Reserve rate cut was enough to push the rate through the resistance of a 38.20% Fibonacci retracement level at 1.2918. By the middle of Thursday's London trading session, the pair had tested the resistance of the 1.2950 level. In the near term future, the rate was expected to reach the resistance of the weekly R1
The GBP/USD has reached the 1.2900 level, where it was pushed by hourly simple moving averages. The rate was expected to trade sideways below this level until the US GDP release and the Federal Reserve Rate announcement. Economic Calendar This week the GBP/USD is bound to be affected by US data and an expected rate cut. On Wednesday, October 30, the US ADP Non-Farm