GBP/USD Turned Positive Above 1.3200

Key Highlights The British Pound found strong bids near 1.3100 and recovered above 1.3200 against the US Dollar. There was a break above a bearish trend line with resistance at 1.3235 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) declined in May 2018 from the last revised reading of 0.42 to -0.15. Today in the UK, CBI Industrial ...
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GBP/JPY Upsides Remain Capped By 146.00

Key Highlights The British Pound declined recently and settled below a major support at 146.20 against the Japanese Yen. There is a key bearish trend line in place with resistance at 146.90 on the 4-hours chart of GBP/JPY. Recently in the UK, the CBI Industrial Trends Index increased from -3 to 13 in June 2018. Today in the UK, the BOE interest rate decision is li...
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GBP/USD Likely to Revisit 1.3200 In Near Term

Key Highlights The British Pound declined sharply from well above 1.3400 and broke 1.3300 against the US Dollar. There was a downside break below 1.3330 on the 4-hours chart of GBP/USD. The pair is now in a bearish zone and it could decline back towards the 1.3200 level in the near term. Today in the US, the Building Permits for May 2018 will be released, which is...
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EUR/GBP Upsides Remain Capped Near 0.8800

Key Highlights The Euro remained confined in a broad range below the 0.8800 resistance against the British Pound. There is a major bearish trend line in place with resistance near 0.8800 on the 4-hours chart of EUR/GBP. On the downside, supports are seen near the 0.8720 and 0.8700 levels. Today in the Euro Zone, the GDP report for Q1 2018 will be released, which i...
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Can GBP/USD Move Past 1.3400?

Key Highlights The British Pound recovered recently and moved above the 1.3300 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.3310 on the 4-hours chart of GBP/USD. The UK Construction PMI in May 2018 remained at 52.5 versus the forecast of 52.0. Today in the US, the US Services PMI for May 2018 will be relea...
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GBP/USD Extending Slide Below 1.3350

Key Highlights The British Pound declined further and broke the 1.3350 support against the US Dollar. There are two bearish trend lines in place with resistance at 1.3330 and 1.3375 on the 4-hours chart of GBP/USD. The pair may perhaps extend the current decline towards the 1.3250 level in the near term. Today in the US, the S&P/Case-Shiller Home Price Indices...
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EUR/GBP Approaching Crucial Break In Near Term

Key Highlights The Euro declined sharply versus the US Dollar, but held gains against the British Pound. There is a crucial contracting triangle forming with resistance at 0.8810 on the 4-hours chart of EUR/GBP. UK’s Consumer Price Index in April 2018 increased 0.4% (MoM), less than the forecast of +0.5%. Today in the UK, the Retail Sales report for Feb 2018 wil...
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GBP/USD Upsides Remain Capped By 1.3500

Key Highlights The British Pound remained in a bearish zone during the past few days and declined below 1.3500 against the US Dollar. There is a key bearish trend line in place with resistance at 1.3525 on the 4-hours chart of GBP/USD. Chicago Fed National Activity Index (CFNAI) increased from the last revised reading of 0.32 to 0.34 in April 2018. Today, UK’s P...
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Euro at Risk of More Declines Vs USD and GBP

Key Highlights The Euro declined heavily this week against most major currencies, including US Dollar and British Pound. A crucial bearish trend line with current resistance near 0.8790 protected gains on the daily chart of EUR/GBP. The Euro Area CPI in April 2018 increased 0.3% (MoM), similar to the forecast. The yearly change in the Euro Zone CPI was 1.2% in Apr...
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GBP/USD Basing Above 1.3460 For Next Move

Key Highlights The British Pound declined this past week before finding buyers near 1.3460 against the US Dollar. There was a break above a crucial bearish trend line with resistance at 1.3520 on the 4-hour chart of GBP/USD. The pair may continue to consolidate above 1.3460 before the next move. Today, the UK Claimant Count Change for April 2018 will be released, ...
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