|Day's range||1.29 - 1.293|
|52-week range||1.1959 - 1.3349|
While economic data will influence, Beijing and Washington will likely have the greatest impact on risk appetite in the week ahead.
The British pound has rallied a bit during the week, reaching towards the top of the flag that is currently being built. It should be noted that we are just above the 50 week moving average, which is a representation of support.
The British pound is very little during the trading session on Friday, as the market is struggling with the 1.29 handle. We are currently trying to build a bullish flag, but at this point most of what we have is noise.
The British and Canadian currencies are almost unchanged on Friday. We could see some movement with the release of U.S. retail sales at 13:30 GMT.
GBP/USD has continued higher after consolidating in a bull flag for most of the week. However, strong resistance is nearby from a declining trendline that originates from the October high.
The economic calendar shifts focus to the U.S Dollar. Following Powell’s positive outlook on the economy, retail sales will need to impress…
The British pound pulled back slightly during the trading session on Thursday, but quite frankly is sitting still and killing time more than anything else at this point. This is a good sign considering just how strong the move higher had been.
Investing.com - The U.S. dollar was unmoved on Thursday as the number of Americans applying for unemployment benefits rose to an unexpected five-month high and there were no new comments on monetary policy from Federal Reserve Chair Jerome Powell.
The British pound continues to trade within a narrow range against the dollar but trades near a fairly important resistance area.
Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.
It has been a very quiet Wednesday session. The Canadian dollar and British pound are flat, and EUR/GBP is also trading sideways. Stronger inflation numbers in the U.S. failed to cause any reaction in the curency markets.
The British pound pulled back slightly during the trading session on Wednesday looking for support underneath. That being the case, it looks as if the market is going to continue to form this larger pattern.
The RBNZ held rates steady, leading to a surge in the Kiwi, while the Greenback was under early pressure following Trump’s Tuesday speech…
Investing.com - The New Zealand dollar gained more than 1% on Wednesday in Asia after the country’s central bank unexpectedly left interest rates unchanged.
It has been a sleepy Tuesday session. The Canadian dollar, British pound and EUR/GBP are all trading sideways and traders can expect a quiet North American session.
The British pound went back and forth during the trading session on Tuesday, showing signs of stability just below at the crucial 1.28 level.
GBP/USD rallied sharply higher on Monday on political developments in the UK but is struggling to hold on to the gains as the pair is strongly offered in early day trading on Tuesday.
Investing.com - The U.S. dollar was slightly higher on Tuesday, but traders remained cautious as they waited for an update on a trade deal with China from U.S. President Donald Trump.