The 1.3820 level provided enough resistance to keep the GBP/USD from falling below the bottom trend line of the channel down pattern, which had been guiding the rate since June 23. The rate drifted sideways near the 1.3750 mark during Friday’s trading hours. The pair should fall in theory, as it has no technical support below the 1.3677 level, which was the weekly S2 simple pivot point. Round exchange rate levels like 1.3740, 1.3720, and, most crucially, the 1.3700 mark could provide support. Continue reading…
Because of the strength of the dollar, the GBP/USD has been on the back foot. Cable will be rocked by Fed meeting minutes, UK GDP, and viral headlines. The daily chart from early July shows that bears have very little room to run. The FX Poll predicts a drop in the short term, followed by a recovery. When will the dollar’s surge come to an end? The greenback has been boosted by a variety of causes, and it appears unstoppable, especially given the pound’s problems. Minutes from the Federal Reserve – the main driver of the dollar – and the Delta covid variation are still in the spotlight. Continue reading…
During Friday’s American session, the greenback maintains its daily losses. The dollar is corrected as a result of US employment data. The GBP/USD exchange rate rose on Friday, but fell for the week. After a quick recovery from 1.3730, the lowest level since mid-April, the GBP/USD is hovering above 1.3800. Following the announcement of the US jobs report, the pair bottomed and then surged to the upside as the greenback reversed, sliding across the board. Continue reading…/n
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