The GBP/USD exchange rate is trading closely around the 1.2540 level after experiencing a short-term surge to its highest point in 10 weeks, driven by an unexpected uptick in the UK Purchasing Managers' Index (PMI) data on Thursday. The pair spent the latter part of the trading day navigating through a significantly restricted market due to subdued Thanksgiving...
The GBP/USD pair maintains a positive trend for the fourth consecutive day, trading around the 1.2535-1.2540 range in the Asian session, just below the highest level since September 9 touched the previous day. The immediate resistance at 1.2550 is seen against GBP/USD before 1.2600 (Fibonacci 50% retracement level from the July-October downtrend) and 1.2670...
GBP/USD closed positively for the third consecutive trading day on Tuesday, reaching its highest level since early September at $1.2560. While experiencing a slight pullback on Wednesday, the pair remains above the $1.2500 mark. UK Chancellor of the Exchequer, Jeremy Hunt, is set to unveil the autumn budget report in the late session. Hunt is expected to announce...
GBP/USD saw an increase on Tuesday as the British Pound outperformed following hawkish comments from officials at the Bank of England. The currency pair is holding firm above the 1.2500 level despite the U.S. Dollar's adjustment. The level at 1.2550 (static level) is considered immediate resistance for GBP/USD, preceding 1.2600 (Fibonacci 50% retracement level...
The GBP/USD pair garnered buying interest during the Asian trading session on Monday, reaching a three-day high around the 1.2470 region. Despite this, the spot price remains below the key resistance of the 100-day Simple Moving Average (SMA) near the psychological level of 1.2500 and the two-month high touched last week. The US Dollar (USD) struggles to register...
The GBP/USD pair consolidates its overnight slide from the 100-day Simple Moving Average (SMA) around the psychological level of 1.2500, or the two-month high, trading in a narrow range in Thursday's Asian session. Meanwhile, the spot price attempts to hold above the significant 1.2400 mark, contingent on the price dynamics of the U.S. Dollar (USD). The U.S....
GBP/USD faces modest downward pressure, dropping to 1.2450 in European trading on Wednesday. UK CPI inflation fell to 4.6% YoY in October from 6.7% in September, causing the British Pound to lose ground. The pair struggles to find firm footing above the 1.2300 level on daily closing basis, potentially paving the way for an extended recovery toward the...
GBP/USD saw an increase from the 20-day SMA to 1.2280 on Monday and is consolidating around 1.2275 in the early Asian trading session, supported by the ongoing weakness of the US Dollar. Attention is shifting towards employment data in the UK and crucial US CPI figures on Tuesday. The currency pair reversed its direction after testing the 1.2200 level, with an...
GBP/USD extends its slide below the 1.2200 level in early US trading. UK GDP data reveals a better-than-expected 0.6% year-on-year growth in the third quarter. However, these figures fail to propel the currency pair as investors await next week's key data for clearer direction. The ascending trendline, the Fibonacci retracement level of the latest downtrend, the...
GBP/USD extends its slide below 1.2200 in early US trading. UK GDP data reveals a year-on-year growth of 0.6% in Q3, surpassing expectations. However, these figures fail to propel the currency pair as investors await next week's key data for clearer direction. What are your thoughts on this currency pair?
The GBP/USD pair entered a consolidation phase on Friday, trading within a narrow range around the 1.2220-1.2225 region, just above the one-week low touched during the Asian trading session. What are your thoughts on this currency pair?
Hello traders! ‼️ This is my perspective on GBPNZD. Technical analysis: Here we are in a bearish market structure from 1H timeframe perspective, so I am looking for a short position. I want price to make a retracement to take buy side liquidity and to fill the imbalance higher and then to reject from bearish order block. Fundamental news: Next week on Friday...
Hello, according to the analysis of the GBP NZD pair. There is a good opportunity to buy as the pair exits the side channel as shown in the analysis. It also broke the strong Double Bouton pattern. And breaking the resistance at the level of 2.05500. All of these factors confirm that the market is for purchase. Good luck to everyone.
GBP/USD closed at around 1.2200 on Thursday, marking its highest level in a week. This rise was supported by the Bank of England's decision to maintain interest rates and further bolstered by a weaker US Dollar. DXY weakened amid risk appetite in the market. The US employment report, scheduled for Friday, is poised to provide additional market direction. The...
GBP/USD dipped below 1.2100 and then rebounded to 1.2150 following the FOMC meeting and Powell's press conference, fueled by the weaker US Dollar. Attention has now shifted to the Bank of England, where interest rates are expected to remain unchanged. The Relative Strength Index (RSI) on the 4-hour chart continues to hover near the 50 mark, indicating indecision...
GBP/USD has entered a consolidation phase after testing the resistance at 1.2200. The upward momentum of the British Pound seems to pause, preparing for the Bank of England (BoE) policy announcement on 'Super Thursday.' The Relative Strength Index (RSI) on the 4-hour chart remains near 50, indicating indecision in GBP/USD. The 100-period Simple Moving Average...
GBP/USD found support around 1.2120, but the recovery faltered near the 1.2150 level. The US Dollar strengthens despite risk appetite, driven by the Federal Reserve's decision, supported by higher Treasury yields. The Relative Strength Index (RSI) on the 4-hour chart remains below 50, and GBP/USD closed the last 4-hour candle just below the 20-period Simple Moving...
GBP/USD surged in the US trading session, reaching its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was bolstered by a weaker US Dollar on Monday, as market participants await US employment data along with Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remains below 50, and GBP/USD closed the last 4-hour...