GBP/USD Struggling Ahead of UK Jobs Report

Key Highlights GBP/USD recovered above 1.3000, but it is struggling to clear the 1.3050-1.3060 resistance.A key bearish trend line is forming with resistance near 1.3040 on the 4-hours chart.The UK ILO Unemployment Rate is likely to remain at 3.8% in Dec 2019 (3M).The UK Claimant Count could change 22.6K in Jan 2020, less than the last 14.9K. GBP/USD Technical Analysis ...
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GBP/USD Recovery Likely To Face Hurdles Near 1.30

Key Highlights GBP/USD traded to a new 2020 low at 1.2871 before correcting higher.There was a break above a connecting bearish trend line with resistance near 1.2920 on the 4-hours chart.The UK Industrial Production might increase 0.3% in Dec 2019 (MoM).The UK GDP could remain flat in Q4 2019 (Preliminary) (QoQ), down from the last +0.4%. GBP/USD Technical Analysis T...
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GBP/USD Dives Again, Can Bulls Protect 1.3000?

Key Highlights GBP/USD failed to stay above the 1.3150 support and declined sharply below 1.3100.A crucial expanding triangle is forming with support near 1.2984 on the 4-hours chart.The UK Manufacturing PMI increased from 49.8 to 50.0 in Jan 2020.The UK Construction PMI could rise from 44.4 to 44.9 in Jan 2020. GBP/USD Technical Analysis This past week, the British P...
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GBP/USD Stuck Below Key Hurdles Near 1.3150

Key Highlights GBP/USD is slowly declining after it failed to clear the 1.3150 resistance.A crucial contracting triangle is forming with resistance near 1.3120 on the 4-hours chart.The US New Home Sales declined 0.4% in Dec 2019 (MoM), whereas the forecast was +1.1%.The US Durable Goods Orders are likely to increase 0.5% in Dec 2019. GBP/USD Technical Analysis This pa...
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GBP/USD Trading Near Make-or-Break Levels

Key Highlights GBP/USD remained in a bearish zone below the 1.3100 pivot area.A key bearish trend line is forming with resistance near 1.3050 on the 4-hours chart.The UK Claimant count could change 24.5K in Dec 2019, down from the last 28.8K.The ILO Unemployment Rate is likely to remain stable at 3.8%. GBP/USD Technical Analysis This month, GBP/USD faced an increase i...
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GBP/USD Signaling Bearish Continuation Below 1.3000

Key Highlights GBP/USD failed to recover above 1.3200 and declined more than 200 pips.The pair broke a crucial triangle support at 1.3110 on the 4-hours chart.The UK Industrial Production decreased 1.2% in Nov 2019 (MoM).The US CPI could increase 2.3% in Dec 2019 (YoY), more than the last 2.1%. GBP/USD Technical Analysis Earlier this month, GBP/USD topped near 1.3280 ...
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GBP/USD Could Rally Again If It Breaks 1.3200

Key Highlights GBP/USD is holding the key 1.3050 and 1.3000 support levels.A major bullish trend line is forming with support near 1.3090 on the 4-hours chart.The UK Services PMI increased from 49.0 to 50.0 in Dec 2019.The US ISM Non-Manufacturing Index could increase from 53.9 to 54.5 in Dec 2019. GBP/USD Technical Analysis After forming a swing high near 1.3284, GBP...
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GBP/USD Recovery Could Face Hurdles Near 1.3200

Key Highlights GBP/USD started a fresh increase from the 1.2904 low.There was a break above a bearish trend line with resistance near 1.2970 on the 4-hours chart.EUR/USD seems to be facing resistance near 1.1200 and 1.1220.The US Housing Price Index in Oct 2019 could increase 0.3% (MoM). GBP/USD Technical Analysis After a heavy decline, GBP/USD found support near the ...
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GBP/USD Nosedives, Risk of Additional Losses

Key Highlights GBP/USD declined heavily below the 1.3200 and 1.3000 support levels.There is a risk of more downsides below 1.2950 and 1.2920.EUR/USD is also showing bearish signs below 1.1120.The US Durable Goods Orders declined 2% in Nov 2019. GBP/USD Technical Analysis After a sharp rally, GBP/USD struggled to break the 1.3500 resistance. Later, the British Pound st...
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GBP/USD Remains In Uptrend Above 1.3200

Key Highlights This past week, GBP/USD rallied more than 400 pips to trade above 1.3500.It is currently correcting lower, but holding key supports above 1.3200.The UK Manufacturing PMI in Nov 2019 (Prelim) declined from 48.9 to 47.4.The UK Claimant count could change 20.2K in Nov 2019, less than the last 33.0K. GBP/USD Technical Analysis This past week, the British Po...
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