GBP/USD Live News

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Jan. 24, 2022

Pound/Dollar is down 62 pips (0.46%), trading around 1.3492

Live - Updated 54 minutes ago.

The Pound crashes after losing 62 pips, breaking down to 1.3492.

United Kingdom Composite PMI published today at 9:30 AM came out at 53.4, falling short of the 55 projections and continuing its decline from the previous 53.6 figure. United Kingdom Manufacturing PMI fall short of the 57.7 projections, with 56.9 and continued its downward trajectory from previous figure of 57.9. United Kingdom Services PMI published today at 9:30 AM came out at 53.3, falling short of the 53.9 projections and continuing its decline from the previous 53.6 figure.

In terms of trend indicators, we can see that the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. Pound/Dollar is flirting with the 1.3461 Fibonacci support level. Asset volatility analysis shows that a slight indication of recovery comes from looking at the Bollinger bands: the lower band is at 1.3458, a low enough level to (usually) suggest that the Pound is trading below its value. As the day reaches an end a chart visual study suggests the nearest support level is at 1.3212, while the closest resistance is at 1.3711.

Overall, the technical analysis picture suggests the British Pound is neutral for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other symbols, EUR/AUD broke through the 1.5851 resistance.

Positive performances can be seen by looking at other symbols as GBP/NZD rallied above 2.0222 for the first time in 1 year (gaining 45 pips). It later dropped, erasing today's gains, and is currently trading lower at 2.0139.

In addition, the Australian dollar broke through the 0.7106 support line, and dropped 39 pips below it.

The market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom CBI Industrial Trends Orders (Jan) is expected to come out at 22 when it's released tomorrow at 11:00 AM, this is a decline from the preceding data which was 24. United States Consumer Confidence expected to decline to 111.8 while its preceding data was 115.8, data will be available tomorrow at 3:00 PM.

Pound/Dollar has gone up 0.21% this year. The asset has been trading sideways for the past a month.

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Week to date

The Pound is trading around 1.3492, after closing the previous week at 1.3492 (down 0.45%) .

A bearish end to the trading week, GBP/USD slides down from 1.3553 to 1.3492 today, losing 61 pips (0.45%). (Trade the British Pound with FXTM now).

United Kingdom Composite PMI published today at 9:30 AM came out at 53.4, falling short of the 55 projections and continuing its decline from the previous 53.6 figure. United Kingdom Manufacturing PMI fall short of the 57.7 projections, with 56.9 and continued its downward trajectory from previous figure of 57.9. United Kingdom Services PMI fall short of the 53.9 projections, with 53.3 and continued its downward trajectory from previous figure of 53.6. United Kingdom Retail Sales published Friday came out at -3.7%, falling short of the -0.6% projections and continuing its decline from the previous 1% figure.

On the flip side, data for United Kingdom Consumer Price Index released Wednesday comes out at 5.4%, beating projections of 5.2% and showing improvement over the preceding figure of 5.1%.

Outlook for rest of the week: The market will be looking for upcoming data regarding United Kingdom CBI Industrial Trends Orders (Jan) is expected to come out at 22 when it's released tomorrow at 11:00 AM, this is a decline from the preceding data which was 24. United Kingdom Nationwide HPI (MoM) scheduled to come out Thursday. United Kingdom Nationwide HPI (YoY) is expected Thursday.