Following yesterday's depreciation of the dollar, the pound seems to have joined the rally but encountered resistance at the descending trendline.
Read More
Before the US inflation data release, GBP/USD paused its short-term rally at the 0.5 retracement level.
Read More
Since the interest rate decision meeting, GBP/USD has been on the rise, with the first significant resistance point appearing to be at 1.2560.
Read More
After initially facing selling pressure following the interest rate decision, the pound managed to recover later on.
Read More
Yesterday, despite interest rates being kept unchanged as expected, the pound, which lost value against the due to two members voting in favor of a rate cut unlike the one member in the previous meeting.
Read More
The expectation for today's interest rate decision on the pound is that rates will stay the same, with the first rate cut anticipated in September.
Read More
Although movements above the mentioned trendline resistance and the 200-day moving average levels occurred on the daily chart, the cable failed to hold above them following yesterday's encounter with selling pressure, starting today with further selling.
Read More
In GBP/USD, after briefly surpassing the significant 200-day moving average level and encountering selling pressure at the also significant level of 1.2600, the price retreated below the average.
Read More
Following the data released on Friday, the GBP/USD pair saw a strong rally towards the 200-day moving average, but it failed to sustain above it, starting the week below the 200-day moving average once again.
Read MoreLOADING...