The GBPUSD
GBP/USD
GBP/USD is a currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the United States dollar (symbol $, code USD). The exchange rate of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD trades at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, which gives it sufficient liquidity.
GBP/USD is a currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the United States dollar (symbol $, code USD). The exchange rate of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD trades at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, which gives it sufficient liquidity.
Read this term bounced back up after tamer core PCE data. The move up comes after the pair tested the swing area stretching back to June 12-14 (see green circles) and the swing low from Wednesday’s trade at 1.2599. Recall yesterday, the price also tested this level, then dropped below, but rebounded quickly. Today’s low price reached 1.25985.
The upward move was supported after core US PCE data came in slightly lower than expected today at 4.6% versus 4.7%. This helped to weaken American dollar
American dollar
The US dollar (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most traded currency worldwide. It was introduced to the US in the late 18th century, paper notes were not distributed until the following century. The US dollar, also known informally as the dollar, is the world’s leading reserve currency, largely due to the prominence of the US economy on the world stage. Once backed by gold (in the 20th century), the USD is now pure
The US dollar (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most traded currency worldwide. It was introduced to the US in the late 18th century, paper notes were not distributed until the following century. The US dollar, also known informally as the dollar, is the world’s leading reserve currency, largely due to the prominence of the US economy on the world stage. Once backed by gold (in the 20th century), the USD is now pure
Read this term. U.S. earnings erased earlier upside moves.
Technically, the price moved above its 100-hour moving average of 1.2678 and then above the key swing area between 1.2687 1.26988 (see red circles on the chart below).
What stopped the pair is the 200 hourly moving average at 1.27099.
Looking back, this 200 hourly moving average was found by a willing seller last Friday, Monday, Tuesday and again Wednesday before moving sharply lower. As a result, it makes sense to find sellers in the 1st test against this moving average. However, a move back below the 100 hourly moving average would be needed to give buyers reason to pause.
On the upside, a move above the 200 hourly moving average would open the door for a potential run towards the weekly high at 1.2759.