GBP/USD is trading in the red at the moment of writing but the bias remains bullish. The pair moves sideways within a narrow range. Its failure to confirm a deeper decline in the short term signaled an upside breakout. The US NPF, Unemployment Rate, and Average Hourly Earnings data could be crucial for USD today. […]
The Bank of England voted unanimously today to keep the Bank rate at 0.1 percent, which is a record low. The central bank, on the other hand, voted 8-1 to keep the asset purchase program at 895 billion pounds, with 875 billion pounds in government bonds. Asset purchases will be slowed so that the project […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is rising to retest the resistance at level 1.4000. The resistance has remained unbroken since February 25. Meanwhile, on April 20, the pair was resisted but the retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates […]
GBP/USD edged higher in the last hours and it could validate further growth soon. The rate has moved sideways in the short term accumulating more bullish energy. USDX’s current sell-off ahead of the FOMC forces the greenback to drop versus its rivals. The US Dollar Index maintains a bearish outlook after the most recent temporary […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishSince February 24, the pair has been in a sideways trend after the rejection at level 1.4200. All the sideways moves have been restricted below level 1.4000. On April 19, a retraced candle body tested the 50% Fibonacci retracement level. […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD has resumed a strong bullish momentum. The pound rebounded above level 1.3800 and rallied above level 1.3950. The Relative Strength Index period 14 indicates that the pound is in the uptrend zone and it is approaching the overbought region. […]
Key Support: 1.3654 Key Resistance: 1.40 – 1.420 The GBPUSD has been rallying since it bottomed at around 1.15 back in January 2020. The 1.3500 zone was a struggle for buyers since this level was the retest of the post Brexit lows break. Historically a KEY level. In the shorter time frame price is trading […]
The US dollar remained fairly weak yesterday, even though the yield on 10-year US bonds rose slightly, and the market’s attention turned to the CPI for March. Note that US CPI growth is expected to accelerate in March, and if that happens, it could heighten expectations of further inflationary pressures in the US economy, which […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BearishGBP/USD has been in a downward move after its rejection from level 1.4200. After the initial fall, the Pound is making a series of lower highs and lower lows. On March 5, a retraced candle body tested the 61.8% Fibonacci […]
