During Wednesday's morning, the GBP/USD currency pair reached the upper boundary of the short-term descending channel at 1.2740. From the theoretical perspective, it is likely, that a reversal south occurs soon. Otherwise, the pair could maintain its growth. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30
The GBP/USD currency pair has been trading sideways between the 55-, 100- and 200-hour moving averages since yesterday. If the given moving averages hold, it is expected, that the pair could continue to trade sideways. Latest Fundamental Event The British Pound appreciated against the US Dollar, following the UK Average Earnings Index data release on Tuesday at 08:30 GMT. The GBP/USD
GBP/USD has been making attempts to pass the resistance of an upper trend line of a channel down pattern and a pivot point near 1.2740. By the middle of Friday's trading session a third attempt was in progress. Watch the trend line and the pivot point for signals of the future of the pair's direction. Latest Fundamental Event Institute for Supply Management
By the middle of Thursday's London trading session the GBP/USD was trading between simple moving averages below the 1.2700 level. In general, our hourly candle chart analyst states that the rate most likely could trade sideways in the near term future. Latest Fundamental Event Institute for Supply Management released the US ISM Non-Manufacturing PMI data, which came out better-than-expected of 56.9 compared
The GBP/USD on Wednesday was continuing the previously started surge. The rate was still aiming at the resistance pf the pivot point at 1.2735. At that level the rate is expected to wait for the support of the approaching simple moving averages. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came out in
The GBP/USD has broken the resistance of the 200-hour simple moving average. Due to that reason it has no technical resistance as high as the 1.2735 level. At that level the rate would meet the first resistance of the simple weekly pivot points. Latest Fundamental Event Last Thursday, the Bureau of Economic Analysis released the US Prelim GDP data, which came
The surge of the GBP/USD was stopped by the resistance of the 200-hour simple moving average at 1.2660. The rate made a couple of attempts at passing it before it plummeted down to the 1.2615 mark. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in line with expectations of 3.1%. According to the official release:
The GBP/USD has broken the resistance of the descending channel pattern, which guided it lower for the most part of May. Although, before surging and breaking the resistance of the pattern the rate reached a new low level by shortly reaching below the 1.2590 level. Latest Fundamental Event Bureau of Economic Analysis released the US Prelim GDP data, which came out in
As expected, the hourly simple moving averages have pushed the GBP/USD into reaching a new low level. Namely, the rate has been pushed into trading between the 1.2620 and 1.2640 levels. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 5
The GBP/USD continues on its way down to the support level at 1.2609. The rate is expected to trade sideways from time to time until the 55 and 100-hour simple moving averages approach and push the rate down. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT.
The previously described technical support levels did not held ground, as it was expected. The GBP/USD has no technical support level as low as the weekly S1 at the 1.2609 level. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost
On Monday morning, in the aftermath of reaching the 1.2740 level the GBP/USD dropped suddenly down to the 1.2680 level. Moreover, it could be observed that, if the 1.2680 does not hold, the rate will have no technical support as low as 1.2609. Latest Fundamental Event The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release
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