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GBP/USD declines below 1.3000, posting a 1-month low. GBP/USD tumbled over the previous four consecutive days, plunging below the medium-term ascending trend line and creating a short-term descending line after the pullback on the nine-month high of 1.3380 in the daily timeframe. Also, the pair declined beneath the key level of
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After China’s upbeat growth numbers this week, all eyes will be on the US economy’s performance during the first quarter. Aside from the US GDP, it’s going to be a rather quiet seven days for economic data due to the shortened Easter week but there will be two major central
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GBP/USD trends along a short-term descending line. GBP/USD closed with few gains on Monday, remaining inside the Ichimoku cloud and below the descending line drawn from the 9-month high of 1.3380. Both the RSI and the MACD have been making efforts to exit the bearish territory, with the former reversing towards
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It seems like it will be a quiet week on the Brexit front, so focus may shift back to UK economic data. Employment, inflation, and retail sales figures are due out on Tuesday, Wednesday, and Thursday respectively – all at 08:30 GMT. These may add some volatility to sterling, but
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GBP/USD jumps higher as the ascending trend line looks supportive. GBP/USD is continuing yesterday’s rebound on the medium-term ascending trend line, which has been standing since December 2018 and at the same time confirming another touch at the 38.2% Fibonacci retracement level of the up leg from 1.2390 to 1.3380, around
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Economic indicators due out of the United Kingdom on Wednesday (08:30 GMT) are anticipated to show GDP growth stalling in February amid the heightened uncertainty around Brexit. But it will be happenings in the Brexit sphere that will once again grab the bulk of traders’ attention. EU leaders will meet
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Economic data will take a backseat in the coming week as the biggest risk events that are being anticipated are the European Central Bank’s policy meeting and an emergency summit by the European Union to discuss the Brexit crisis. But while UK and EU politics may grab most of the
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The main release in the UK this week will be the services PMI for March, due out on Wednesday at 09:30 GMT. However, politics will probably eclipse economics in driving the British currency. On that front, Parliament could hold another round of votes on Wednesday, and PM May is reportedly preparing
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GBP/USD faces neutral-to-bearish risk in the short term. GBP/USD returned to the downside on Tuesday after Monday’s closing above 1.31. The RSI is suggesting neutral trading in the short term as the index is curving up to reach its 50 neutral level. Yet with the MACD stepping into the negative territory,
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Following Thursday’s dive towards 1.30, GBP/USD returned to the 1.32 area to maintain the upward pattern it started in December. Meanwhile, the RSI seems to be losing ground in bullish territory, capturing a neutral picture for the short term. The 1.33 round level would be the main target if positive momentum
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