EUR/GBP Could Resume its Downtrend?

Key Highlights The Euro faced a lot of selling interest near 0.8780-90 against the British Pound and declined. There are two crucial bearish trend lines forming with resistance near 0.8770 on the 4-hours chart of EUR/GBP. The UK Manufacturing PMI in March 2018 increased from the last revised reading of 55.0 to 55.1. Today, the Euro Zone CPI report for March 2018 (...
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Can GBP/JPY Hold This Crucial Support?

Key Highlights The British Pound corrected lower from 150.58 but it found support near 148.80 against the Japanese Yen. There is a significant ascending channel forming with support near 148.80 on the 4-hours chart of GBP/JPY. The pair remains in an uptrend as long as it is above the 148.80 support. Today, the UK Manufacturing PMI for March 2018 will be released, ...
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GBP/USD Remains Supported Ahead of US GDP

Key Highlights The British Pound formed a short-term top at 1.4244 and declined against the US Dollar. There is a crucial bullish trend line forming with support at 1.4020 on the 4-hours chart of GBP/USD. The S&P/Case-Shiller Home Price Indices in Jan 2018 increased 6.4%, more than the forecast of +6.2% . Today, the US GDP report for Q4 2017 will be released, ...
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Can GBP/JPY Continue Trading Higher?

Key Highlights The British Pound made a nice upside move and traded above 149.00 against the Japanese Yen. There is a major ascending channel forming with support at 148.20 on the 4-hours chart of GBP/JPY. The UK Claimant Count Change came in at 9.2K in Feb 2018, compared with the forecast of -5.0K. Today, the BOE interest rate decision is scheduled and the market...
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GBP/USD Downsides Remain Supported above 1.3950

Key Highlights The British Pound recently made a short-term top at 1.4080 against the US Dollar. There is a crucial bullish trend line in place with support at 1.3950 on the 4-hours chart of GBP/USD. The UK CPI in Feb 2018 increased 0.4%, less than the forecast of +0.5% (MoM). Today, the UK Claimant Count Change for Feb 2018 will be released, which is forecasted t...
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GBP/USD Approaching Key Break, UK’s Budget Next

Key Highlights The British Pound recovered nicely from the 1.3790 swing low against the US Dollar. There is a key contracting triangle forming with resistance at 1.3930 on the 4-hours chart of GBP/USD. The pair could make the next move either above 1.3930 or below 1.3840. Today, the UK Budget report will be released, which could ignite swing moves in GBP/USD. G...
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EUR/GBP Remains in Steady Uptrend

Key Highlights The Euro made a nice upside move and traded above the 0.8920 resistance against the British Pound. There is a connecting bullish trend line forming with support at 0.8920 on the 4-hours chart of EUR/GBP. The Euro Zone Gross Domestic Product increased 0.6% in Q4 2017, similar to the market forecast. Today, the ECB Interest Rate Decision will be annou...
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GBP/USD is Approaching Crucial Resistance

Key Highlights The British Pound started a new upside wave and traded above 1.3800 against the US Dollar. There is a crucial bearish trend line forming with resistance at 1.3980 on the 4-hours chart of GBP/USD. The US Factory orders declined 1.4% in Jan 2018, more than the forecast of -1.3%. The US Trade Balance figure for Jan 2018 will be released today, which is...
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GBP/USD at Continued Risk of Weakness

Key Highlights The British Pound failed to move above the 1.4065 resistance and declined versus the US Dollar. There is a significant bearish trend line forming with resistance at 1.4030 on the 4-hours chart of GBP/USD. The US Durable Goods Orders in Jan 2018 declined 3.7%, more than the -2.0% forecast. Today, the US Gross Domestic Product Q4 2017 (Preliminary) wi...
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Can GBP/USD Regain Bullish Momentum?

Key Highlights The British Pound failed to move above 1.4150 this past week against the US Dollar and declined. There is a crucial bearish trend line forming with current resistance at 1.4080 on the 4-hours chart of GBP/USD. The UK CBI Industrial Trends Survey Orders Index declined from 14 to 10 in Feb 2018. Today, the UK Claimant Count Change figure for Jan 2018 ...
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