The British pound depreciated 0.89% against the US Dollar since Friday’s session. During the previous session, the rate passed the 55-hour and the 100-hour SMAs supports together with the 50.00% Fibo and the weekly PP level to stop the trade at the 1.3101 mark. On Monday, the British pound was located below the weekly PP at the 1.3127 mark.
In regards to the near-term future, the currency exchange rate will trade sideways due to support of the 200-hour SMA and resistances of the significant technical indicators. Most likely, the rate will trade at the 1.3050 level during the day.
However, today’s fundamentals could break the prediction for the currency pair!
In regards to the near-term future, the currency exchange rate will trade sideways due to support of the 200-hour SMA and resistances of the significant technical indicators. Most likely, the rate will trade at the 1.3050 level during the day.
However, today’s fundamentals could break the prediction for the currency pair!
Comment:
The British pound depreciated 0.51% against the US Dollar since Wednesday’s session. During the previous session, the rate was passed through the SMAs to stop the trade at the 1.3092 mark. On Thursday morning, the rate was located below the weekly PP to trade at the 1.3110 mark.
In regards to the near-term future, most likely, the British pound will trade downwards to the monthly PP at 1.3038 mark due to the resistance of the SMAs and the weekly PP at 1.3147 mark.
On the other side, the rate might surge to the weekly PP at 1.3147 mark to bounce off the technical indicator to trade at the 1.3100 level during the trading session.
The British pound depreciated 0.51% against the US Dollar since Wednesday’s session. During the previous session, the rate was passed through the SMAs to stop the trade at the 1.3092 mark. On Thursday morning, the rate was located below the weekly PP to trade at the 1.3110 mark.
In regards to the near-term future, most likely, the British pound will trade downwards to the monthly PP at 1.3038 mark due to the resistance of the SMAs and the weekly PP at 1.3147 mark.
On the other side, the rate might surge to the weekly PP at 1.3147 mark to bounce off the technical indicator to trade at the 1.3100 level during the trading session.
Comment:
The British pound depreciated 0.40% against the US Dollar since Thursday’s session. During the previous session, the rate passed through the monthly PP at 1.3038 and the weekly S1 at 1.3036 to stop the trade at the 1.3017 mark. On Friday morning, the rate was resisted by the monthly PP to keep the rate to trade at 1.3032 mark.
In regards to the near-term future, most likely, the British pound will trade sideways in the pattern channel to stay at 1.2980 level during the trading day.
In addition, the simple moving averages will try to catch up the rate to give an additional resistance for the British pound to trade downwards to the bottom boundary of the medium ascending pattern.
The British pound depreciated 0.40% against the US Dollar since Thursday’s session. During the previous session, the rate passed through the monthly PP at 1.3038 and the weekly S1 at 1.3036 to stop the trade at the 1.3017 mark. On Friday morning, the rate was resisted by the monthly PP to keep the rate to trade at 1.3032 mark.
In regards to the near-term future, most likely, the British pound will trade sideways in the pattern channel to stay at 1.2980 level during the trading day.
In addition, the simple moving averages will try to catch up the rate to give an additional resistance for the British pound to trade downwards to the bottom boundary of the medium ascending pattern.
The British pound appreciated 0.27% against the US Dollar since Tuesday’s session. During the previous session, the rate was passed the support of the 100-hour SMA to stop the trade at the 1.3186 mark. On Wednesday morning, the rate was located between the 100-hour and the 55-hour SMAs to trade at the 1.3174 mark.
In regards to the near-term future, the British pound will keep surging upwards to the weekly R1 at 1.3260 mark due to the support of the 55-hour SMA and the 50.00% Fibo level.
However, today’s UK CPI data release at 8:30 GMT may break the predictions for the currency pair to pass through the 50.00% Fibo level during the data release time.