GBPUSD Defies Gravity, Looks to Trade Higher Moving Ahead

Key Highlights British Pound traded higher Intraday against the US Dollar, and broke a critical resistance area. GBPUSD is facing a major resistance on the upside around 1.5550 where sellers might struggle in the near term. In New Zealand, the Business NZ PMI released by the Business NZ posted a minor decrease from the previous revised reading of 51.7 to 51.5 in April 2...
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GBPUSD Resilience Gives us Pause, but not out of Woods Yet

Key Highlights British Pound managed to trade above a major resistance versus the US Dollar and looks set for more upsides. GBPUSD has an intermediate resistance at 1.5370-80 and support at 1.5280. In Australia, the Retail Sales released by the Australian Bureau of Statistics posted no change in May 2015 whereas the market was expecting a rise of 0.4%. GBPUSD – Tec...
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GBPUSD Eyeing Services PMI For Gains

Key Highlights In the last 24 hours the British Pound has surged higher, however it has run into resistance right around the 200 hourly MA, and eased slightly lower in recent hours. UK Services Purchasing Managers Index (PMI) will be released by both the Chartered Institute of Purchasing & Supply and the Markit Economics, and expected to decline from 58.9 to 58.5. G...
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EURGBP – Euro at Clear Risk of Further Declines

Key Highlights EURGBP pair continues to correct lower from recent high of 0.7418 just shy of the key barrier at 0.7420. Nothing eventful in Euroland data wise today, which means action might be sentiment based. Earlier today in Australia, the RBA reduced interest rates from 2.25% to 2% as forecasted. RBA Interest Rate Decision Today, there was a monster release in...
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Risk of Break Lower Grows In GBPJPY

Key Highlights British Pound managed to clear the 180.00 resistance area against the Japanese yen, but it looks like struggling to hold gains. GBPJPY is trading around an important support area and if it is breached more losses are possible. Today, the UK CBI Industrial Trends Survey will be released by the Confederation of British Industry i.e. expected to increase fro...
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GBPUSD Slow and Steady Uptrend

Key Highlights British pound slowly grinding higher against the US dollar, but faces a monster resistance around 1.50. UK Rightmove House Price Index was released recently, which posted an increase of 1.6% in April 2015, compared to the preceding month. GBPUSD has formed a pivot area around 1.4920-30, which holds the key in the short term. UK RightMove House Price In...
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GBPUSD and UK CPI Aftermath

Key Highlights British pound looks nervous as the UK CPI report released today was below the forecast. UK Consumer Price Index released by the National Statistics posted a rise of 0.2% in March 2015, compared to Feb 2015. GBPUSD fell in an initial reaction and then later managed to trade back higher. Technical Analysis The British pound was seen trading lower agai...
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EURGBP at Make it or Break Levels

Key Highlights Euro’s slide against the British pound gained pace as sellers managed to take it lower. EURGBP tested the 0.7200 support area where buyers just managed to protect the downside. Today, in the Euro zone the Portugal Consumer Price Index was released by Statistics Portugal, which posted a rise of 1.9% in March 2015, compared to the preceding month. Tech...
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GBPUSD Eyes BOE For A Break

Key Highlights British pound climbed higher recently against the US dollar, but failed around an important resistance area. In the UK, the BOE Interest Rate Decision will be announced by the Bank of England, which might cause heavy movements in GBPUSD. GBPUSD is forming a breakout pattern with support at 1.4850 and resistance ahead at 1.4950. Technical Analysis Th...
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EURGBP Might Struggle To Trade Higher

Key Highlights Euro traded higher against the British pound, but struggled to clear a major hurdle at 0.7350. EURGBP market sentiment looks bullish, but it is facing an important resistance which is stalling upside in the near term. Germany Factory orders will be released by the Deutsche Bundesbank, which is expected to increase by 1.5% in February 2015, compared to the...
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