GBP/USD Rebound Could Face Strong Resistance

Key Highlights The British Pound found support near 1.2980 and recently recovered against the US Dollar. A major bearish trend line is in place with resistance at 1.3190 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in March 2019 increased from 52.1 to 55.1. The UK Construction PMI for March 2019 is likely to rise from 49.5 to 49.8. GBPUSD Technical...
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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 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 Major Downtrend Below 1.2900

Key Highlights The British Pound declined recently and broke the 1.2800 support against the US Dollar. There is a crucial bearish trend line in place with resistance near 1.2770 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in Nov 2018 increased from 51.1 to 53.1. Today, the UK’s Construction PMI for Nov 2018 will be released, which is forecasted to ...
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GBP/USD Testing Key Support Near 1.3000

Key Highlights The British Pound started a downside move from 1.3280 and declined towards 1.3000 against the US Dollar. There is a declining channel formed with resistance at 1.3100 on the 4-hours chart of GBP/USD. The US ISM Manufacturing Index for Sep 2018 declined from 61.3 to 59.8. Today, the US ISM NY index - Business Conditions Index for Sep 2018 will be rel...
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Can GBP/USD Move Past 1.3400?

Key Highlights The British Pound recovered recently and moved above the 1.3300 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.3310 on the 4-hours chart of GBP/USD. The UK Construction PMI in May 2018 remained at 52.5 versus the forecast of 52.0. Today in the US, the US Services PMI for May 2018 will be relea...
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EUR/GBP – Euro Poised For Further Declines Vs British Pound

Key Highlights The Euro after setting a top near 0.8880 against the British Pound started a downside correction. The EUR/GBP pair recently cleared two important bullish trend lines around 0.8800 to initiate a bear wave. Recently in the Euro Area, the Unemployment Rate for May 2017 was released, which remained unchanged from 9.3%. Today in the UK, the PMI Construct...
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GBPUSD – British Pound Likely Bullish Ahead of BOE Decision

Key Highlights The British Pound during the past few days traded positively, and broke the 1.2500 resistance against the US Dollar. The GBPUSD pair also broke a monster bearish trend line at 1.2470 on the daily chart. Today, the UK BoE Interest Rate Decision will be announced by the Bank of England, forecast is 0.25% vs 0.25% previous. The UK PMI Construction will...
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