GBP/USD Could Dip Further Before Fresh Increase

Key Highlights The British Pound declined below the key 1.2350 support against the US Dollar. GBP/USD could find support near 1.2230 or 1.2200.The UK GDP grew 1.3% in Q2 2019 (YoY), more than the 1.2% forecast.The UK Manufacturing PMI is likely weaken further from 47.4 to 47.0 in Sep 2019. GBP/USD Technical Analysis In the past few days, there was a steady decline in ...
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GBP/USD Approaching Key Uptrend Support

Key Highlights The British Pound started a downside correction from 1.2580 against the US Dollar. GBP/USD might find bids near 1.2380 and a bullish trend line on the 4-hours chart.The US Manufacturing PMI in Sep 2019 (Prelim) increased from 50.3 to 51.0.The US Consumer Confidence (CB) could decline from 135.1 to 134.1 in Sep 2019. GBP/USD Technical Analysis This past ...
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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 Rebounds after Testing Important Support

Key Highlights The British Pound started a downside correction after trading as high as 1.4345 against the US Dollar. An important bullish trend line with current support at 1.4070 prevented declines on the 4-hours chart of GBP/USD. The pair is rebounding and is currently trading with a positive bias above 1.4100. UK’s GfK Group Consumer Confidence index in Jan ...
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