GBP/USD Approaching Crucial Resistance Near 1.3300

Key Highlights The British Pound recovered nicely after trading towards the 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3120 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) declined from -0.25 to -0.29 in Feb 2019. The US Consumer Confidence in March 2019 could increase from 131.4 ...
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GBP/USD Remains In Uptrend Above 1.3120

Key Highlights The British Pound climbed to 1.3380 before correcting lower against the US Dollar. A major bullish trend line is formed with support at 1.3060 on the 4-hours chart of GBP/USD. The UK Rightmove House Price Index increased 0.4% in Feb 2019 (MoM), less than the last +0.7%. The UK Claimant Count for Feb 2019 will be released today, which could change by...
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GBP/USD Upside Break Above 1.3100 Looks Real

Key Highlights The British Pound rallied recently after trading as low as 1.2960 against the US Dollar. A crucial bearish trend line was breached with resistance at 1.3120 on the 4-hours chart of GBP/USD. The US Retail Sales in Jan 2019 increased 0.2% (MoM), compared with the last decline of 1.6%. The US Consumer Price Index for Feb 2019 will be released today, wh...
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GBP/USD Rally Unwinds But Not Likely Over

Key Highlights The British Pound surged above 1.3250 before sellers appeared near 1.3350 against the US Dollar. A major declining channel is in place with resistance near 1.3240 on the 4-hours chart of GBP/USD. The UK Construction PMI declined from 50.6 to 49.5 in Feb 2019. The UK Services PMI for Feb 2019 will be released today, which could decline from 50.1 to 4...
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GBP/USD Rebound Reaching Crucial Juncture

Key Highlights The British Pound corrected higher and broke the 1.2850 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at 1.2970 on the 4-hours chart of GBP/USD. UK’s Rightmove House Price Index for Feb 2019 increased 0.2% (MoM), less than the last +0.4%. The UK Claimant Count figure for Feb 2019 will be released to...
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GBP/USD Rebound Could Face Hurdles

Key Highlights The British Pound declined heavily and broke the 1.3040 support area against the US Dollar. Two bearish trend lines formed with resistance at 1.2970 and 1.3025 on the 4-hours chart of GBP/USD. The UK Manufacturing Production in Dec 2018 declined 0.7% (MoM), compared with the +0.1% forecast. Today in the US, the NFIB Business Optimism Index for Jan 2...
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GBP/USD Correcting Lower Towards Key Support

Key Highlights The British Pound started a major downside correction from the 1.3217 high against the US Dollar. There is a key declining channel formed with resistance at 1.3120 on the 4-hours chart of GBP/USD. The UK Construction PMI in Jan 2019 declined from 52.8 to 50.6. The UK Services PMI for Jan 2019 will be released today, which could decline from 51.2 to ...
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GBP/USD Remains In Significant Uptrend

Key Highlights The British Pound climbed higher recently and settled above the 1.3000 pivot against the US Dollar. There is a major bullish trend line in place with support at 1.3070 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) increased from 0.21 to 0.27 in Dec 2018. Today in the US, the Consumer Confidence for Jan 2019 will be...
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GBP/USD Approaching Crucial Support Near 1.2800

Key Highlights The British Pound traded as high as 1.3000 and later corrected lower against the US Dollar. There are two bullish trend lines formed with support near 1.2780-1.2800 on the 4-hours chart of GBP/USD. China’s GDP in Q4 2018 increased 6.4% (YoY), less than the last 6.5%. The UK Claimant Count for Jan 2019 will be released today, which could change 20....
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GBP/USD Could Test 1.3000 In Near Term

Key Highlights The British Pound gained momentum recently and broke the 1.2900 resistance against the US Dollar. There are two bullish trend lines formed with support at 1.2780 on the 4-hours chart of GBP/USD. China’s Trade Balance in Dec 2018 posted a surplus of $57.06B, more than the $51.53B forecast. The US Producer Price Index for Dec 2018 will be released t...
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