The GBP/USD has been retreating since the start of the year's trading. By the middle of Thursday's London trading hours, it was expected that the pair could reach below the 1.3200 level. Economic Calendar On Friday, January 3, the ISM Manufacturing PMI survey results will be released at 15:00 GMT. At the same day, the FOMC Meeting Minutes data will be published at
During today's morning, the GBP/USD exchange rate was testing the resistance level formed by the monthly R2 at 1.3115. If the given resistance holds, it is likely that the British Pound could depreciate against the US Dollar in the short run. Economic Calendar This week, the are three scheduled events that could impact on the GBP/USD rate. On Tuesday, December 31, the US CB
During today's morning, the GBP/USD exchange rate was testing the 200-hour SMA at 1.3053. If the given moving average holds, it is likely that a reversal south could occur. Otherwise, the rate could continue to extend gains. Economic Calendar This week, there are no events left that could affect the GBP/USD rate. Next week, the are three scheduled events that could impact on the
During the first half of Monday, the GBP/USD exchange rate dropped to the Fibo 38.205 at 1.2918. If the given support level holds, it is likely that a reversal north could occur in the nearest future. Economic Calendar This week, the US Durable Goods Orders on Monday at 13:30 GMT could cause a move. Meanwhile, this week's scheduled event historical data tables
As expected, the GBP/USD reached the 1.3028 level. Moreover, the 1.3000 mark was touched two times during Thursday's trading. The support of the 1.3000 managed to cause a surge, which by the middle of Friday's trading had encountered technical resistance. UK Retail Sales The British Pound depreciated against the US Dollar, following the UK Retail Sales release on Thursday at 09:30 GMT.
On Thursday, the GBP/USD exchange rate was declining, as the 55-hour simple moving average had provided resistance. At the start of the second half of London trading session, the pair was reaching new low levels and was expected to reach a pivot point at 1.3028. UK Retail Sales The British Pound depreciated against the US Dollar, following the UK Retail Sales release on
On Wednesday, the GBP/USD was testing the support of a weekly pivot point at 1.3090. If the pivot point would fail to keep the rate from declining further, next up the monthly pivot at 1.3028 could be targeted. Economic Calendar On Thursday, at 09:30 GMT, the United Kingdom Retail Sales data will be made public. The Retail Sales could cause a move from
By the middle of Tuesday's London trading hours, the GBP/USD had reached the level, where it was located before Boris Johnson's Conservative election victory. In general, the rate was expected to continue to decline until it reaches technical support levels near 1.3115. Economic Calendar On Wednesday, the UK CPI is scheduled to be released at 09:30 GMT. This event could create a move
During Monday morning, the GBP/USD exchange rate was trading at the 1.3350 level. Given that the rate is supported by the 55-hour SMA, it is likely that some upside potential could prevail in the market. On the other hand, some volatility could occur due to the UK Bank Stress Test Results release at 16:00 GMT. Economic Calendar This week, the data that might
The Prime Minister of the United Kingdom Boris Johnson announced on Friday that the UK would leave the EU by January 31. The announcement was made, as his Conservative party won the election with a majority not seen since the 1980s. The GBP surged on the announcement, as it brought back certainty of the country's future. UK Election causes a surge On Thursday,
On Thursday, the GBP/USD touched the support of the 1.3120 level. During the second part of London trading hours, the pair bounced off this level and began to test the resistance of the 55-hour simple moving average. Meanwhile, as the UK general elections were taking place, our analysts expected that all technical levels would be ignored by the rate. The results
On Wednesday, the GBP/USD exchange rate was testing the resistance formed by the 55- and 100-hour SMAs, located circa 1.3150. It it likely that the rate could trade sideways between the Fibo 50.00% and the monthly R2, located at 1.3196 and 1.3115 respectively. Economic Calendar This week there are a couple of events that could impact the rate. Today, at 13:30 GMT
On Tuesday, the GBP/USD was approached by the additional support of the 100-hour simple moving average. The SMA strengthened the support of the 1.3140 level and pushed the rate higher. By the middle of the day's London trading hours, the rate had approached the resistance of the 1.3180 level, which stopped a surge on Monday. Economic Calendar This week there are a couple
On Monday, the GBP/USD was being kept up by the technical support of the 55-hour simple moving average near the 1.3150 level. If the SMA would manage to continue to push the rate up, the pair should eventually reach the 1.3200 level, where a 50.00% Fibonacci retracement level was located at. US Employment Data The Bureau of Labor Statistics released the US
For fifteen hours, the GBP/USD made attempts to pass the 1.3165 level. On Friday, the rate failed at passing this level and retreated down to the support of three technical levels near 1.3110. In general, the rate was expected to find support in the 55-hour SMA, which should push the rate into the resistance of a 50.00% Fibonacci retracement level at
By the middle of Thursday's London trading session, the GBP/USD had reached the 1.3150 mark. If the surge continues, the rate should aim first at the 1.3200 level and afterwards at a pivot point at 1.3244. Fundamentals Crash US Dollar Since Monday, December 2, the US Dollar has been depreciating. Most likely, the Greenback is pressured by various fundamental events. Firstly, on
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