EUR/GBP Remains At Risk Of More Declines

Key Highlights The Euro started a significant decline below the 0.9000 support against the British Pound. EUR/GBP could face resistance near 0.8900 and a bearish trend line on the 4-hours chart.The Euro Zone CPI increased 0.1% in August 2019 (MoM), less than the +0.2% forecast.The UK Retail Sales might increase 2.9% in August 2019 (YoY), less than the last +3.3%. EUR/GBP...
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GBP/USD Turns Green, Can Bulls Remain In Action?

Key Highlights The British Pound climbed higher sharply above 1.2400 against the US Dollar. GBP/USD remains well supported near 1.2375 and a bullish trend line on the 4-hours chart.The NY Empire State Manufacturing Index declined from 4.8 to 2.0 in Sep 2019.The US Industrial Production might rise 0.2% in August 2019 (MoM), better than the last -0.2%. GBP/USD Technical An...
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GBP/USD Showing Positive Signs Above 1.2300

Key Highlights The British Pound gained traction and broke the 1.2300 resistance area against the US Dollar. GBP/USD is facing resistance near 1.2400 and a trend line on the 4-hours chart.The UK Manufacturing Production in July 2019 increased 0.3% (MoM).The UK Claimant Count could change 29.3K in August 2019, less than the last 28.0K. GBP/USD Technical Analysis The Br...
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GBP/USD Restarts Downtrend, 1.2000 Support At Risk

Key Highlights The British Pound declined below the key 1.2150 support area against the US Dollar. GBP/USD traded below a major bullish trend line with support at 1.2175 on the 4-hours chart.The UK Manufacturing PMI declined from 48.0 to 47.4 in August 2019.UK’s Construction PMI could increase from 45.3 to 45.9 in August 2019. GBP/USD Technical Analysis After a dec...
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GBP/USD Could Bounce Back, 1.2150 Holds Key

Key Highlights The British Pound climbed above 1.2200, but failed near 1.2300 against the US Dollar. GBP/USD may well find bids near 1.2180, 1.2150, and a bullish trend line on the 4-hours chart.The US Durable Goods Orders jumped 2.1% in July 2019, more than the +1.1% forecast.The US Consumer Confidence (CB) could decline from 135.7 to 129.5 in August 2019. GBP/USD Techn...
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GBP/USD Recovery Remains Attractive To Sellers

Key Highlights The British Pound started a short term recovery from 1.2014 against the US Dollar. GBP/USD is struggling to gain momentum above the 1.2180 and 1.2200 resistances.The Euro Zone CPI in July 2019 declined 0.5% (MoM), more than the -0.4% forecast.EUR/USD could extend losses as long as it is below 1.1150. GBP/USD Technical Analysis Earlier this month, we saw...
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GBP/USD Rebound Could Fail Near 1.2150 or 1.2200

Key Highlights The British Pound recovered from a new 2-year low at 1.2014 against the US Dollar. GBP/USD is likely to face a strong selling interest near 1.2150 or 1.2200.The UK Claimant count could change 22.8K in July 2019, less than the last 38.0K.EUR/USD remained well bid and supported above the 1.1150 area. GBP/USD Technical Analysis In the past few days, the Br...
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GBP/USD In Downtrend As Long As Below 1.2250

Key Highlights The British Pound started an upside correction above 1.2100 against the US Dollar. A declining channel is forming with resistance near 1.2205 on the 4-hours chart of GBP/USD.The UK Services PMI in July 2019 increased from 50.2 to 51.4.The US IBD/TIPP Economic Optimism Index in August 2019 might decline from 56.6 to 54.6. GBPUSD Technical Analysis This p...
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EUR/GBP Correcting Recent Rally, Fed Cuts Interest Rates

Key Highlights The Euro surged higher this week and broke the 0.9150 resistance against the British Pound. EUR/GBP broke a crucial bearish trend line at 0.8970 on the 4-hours chart to start uptrend.The Euro Area GDP grew 1.1% in Q2 2019 (Prelim) (YoY), more than the 1.0% forecast.The Fed lowered interest rates from 2.50% to 2.25%, in line with the market forecast.The BoE In...
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GBP/USD Nosedives To New 2-Year Low Below 1.2200

Key Highlights The British Pound declined heavily and traded to a new 2-year low against the US Dollar. GBP/USD struggled to break a crucial bearish trend line with current resistance near 1.2440 on the 4-hours chart.UK’s Consumer Credit in June 2019 came in at £1.046B, up from the last revised £0.906B.The US Personal Income in June 2019 could increase 0.4% (MoM), less ...
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