GBPUSD and US NFP – Looking to Buy Dips?

GBPUSD and US NFP – Looking to Buy Dips? Key Highlights             British Pound enjoyed a decent ride against the US Dollar, and it looks like the GBPUSD pair head further higher. The pair stopped yesterday after the BOE interest rate decision, but the downside reaction after the release was limited. Today, there is a monster release in the US, as the ...
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GBPUSD – More Declines Likely?

GBPUSD – More Declines Likely or Can it Recover? Key Highlights             British Pound continued to struggle to recover even 50 pips against the US Dollar. GBPUSD traded lower and tested the 1.4235-40 support area where buyers defended the downside. There is a major release in the UK today, as the Consumer Price Index will be published by the National...
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GBPUSD Buyers Surrender; Can it Recover?

GBPUSD Buyers Surrender; Can it Recover? Key Highlights             British Pound traded lower during the past couple of sessions against the US dollar and dropped towards 1.4660. There are a couple of bearish trend lines formed on the hourly chart, which may act as a resistance moving ahead. Today, the UK PMI Construction will be released by the Chartered...
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GBPUSD – Important Break ahead of Fed?

GBPUSD – Important Break ahead of Fed? Key Highlights             British Pound traded lower against the US Dollar and broke a major support trend line on the hourly chart. Can this be considered as an important break just ahead of the fed interest rate decision? The GBPUSD pair traded as low as 1.5030, and currently struggling to hold the ground. US T...
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GBPUSD Closing In Towards a Major Resistance Area

GBPUSD Closing In Towards a Major Resistance Area Key Highlights             British Pound tested the 1.5000 support area against the US dollar and bounced back sharply. The GBPUSD pair recovered well, and currently trading near a major resistance area of 1.5100. In China, the NBS Manufacturing Purchasing Managers Index (PMI) released by the China Federati...
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GBPUSD – Pound Remains Under Pressure against US Dollar

GBPUSD – Pound Remains Under Pressure against US Dollar Key Highlights             The British Pound managed to trade higher against the US Dollar, but it is facing a major resistance around 1.5240-60. There are a couple of bearish trend lines formed on the hourly chart of the GBPUSD pair, acting as a hurdle. In the UK today, the Consumer Price Index wil...
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GBPUSD Eyeing New Highs?

Key Highlights British Pound yesterday moved lower before finding support near 1.5360 against the US Dollar. There is a major support built around the mentioned area as there is a bullish trend line and 100 hourly MA positioned around it. The UK British Retail Consortium (BRC) Shop Price Index was published during the Asian session, which posted a decline of 1.8% in Oct...
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GBPUSD – Double Top or Break Higher?

Key Highlights There was a solid US Dollar weakness noted across all the major pairs, including GBPUSD. The GBPUSD pair moved higher, but it is currently facing a major resistance around 1.5240. UK British Retail Consortium (BRC) Shop Price Index posted a decline of 1.9% in September 2015, compared with the last reading of -1.4%. GBPUSD Technical Analysis As menti...
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GBPUSD Likely To Trade Lower; Eyes US GDP

Key Highlights British Pound remained weak against the US Dollar, and every attempt to trade higher found sellers. A bearish trend line on the hourly chart of the GBPUSD pair is acting as a hurdle. A major event is lined up in the US today, as the Gross Domestic Product Annualized will be released by the US Bureau of Economic Analysis. In Japan, the National Consumer ...
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GBPUSD – Pound at Potentially Significant Downside Risk

Key Highlights British Pound recently cleared an important support area against the US Dollar, creating a risk for a downside move. 5450 can act as a resistance for GBPUSD if the pair moves higher from the current levels. There is a major release today in the UK, as the Consumer Price Index will be reported by the National Statistics, i.e. expected to register no change...
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