EUR/GBP Analysis: Daily Chart Suggests Crucial Bullish Break

Key Highlights The Euro climbed above the 0.8700 and 0.8750 resistance levels against the British Pound. EUR/GBP surpassed a major bearish trend line with resistance near 0.8640 on the daily chart.The UK CPI increased 2.1% in April 2019 (YoY), less than the 2.2% forecast.The Euro Zone Manufacturing PMI in May 2019 (Prelim) could rise from 47.9 to 48.1. EURGBP Technical A...
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GBP/JPY Remains Supported On Dips Near 145.60

Key Highlights The British Pound traded higher recently and tested 147.00 against the Japanese Yen.GBP/JPY surpassed two key bearish trend lines near 145.90 on the 4-hours chart.The UK Claimant Count in March 2019 changed 28.3K, more than the 20.0K forecast.The UK Consumer Price Index in March 2019 (YoY) could increase 2.0%. GBPJPY Technical Analysis The British Pound...
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AUD/USD Remains At Risk Of More Declines

Key Highlights The Aussie Dollar declined heavily after it failed to surpass the 0.7300 resistance against the US Dollar. There was a break below a crucial triangle support at 0.7210 on the 4-hours chart of AUD/USD. The NFIB Business Optimism Index in Jan 2019 declined from 104.4 to 101.2. Today in the US, the CPI figure for Jan 2019 will be released, which could ...
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Gold Price Could Extend Rally Above $1,300

Key Highlights Gold price gained traction in the past few days and broke the $1,285 resistance against the US Dollar. There is a crucial bullish trend line formed with support at $1,288 on the 4-hours chart of XAU/USD. The US PPI in Dec 2018 declined 0.2% (MoM), more than the -0.1% forecast. The UK CPI report for Dec 2018 will be released today, which could rise 2...
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EUR/GBP Remains in Major Uptrend Above 0.8880

Key Highlights The Euro traded above the 0.9000 level recently before correcting lower against the British Pound. There is a crucial ascending channel in place with support at 0.8900 on the daily chart of GBP/USD. The Euro Area Gross Domestic Product for Q2 2018 (Prelim) posted a rise of 0.4% (QoQ), more than the forecast of 0.3%. Today, the UK Consumer Price Inde...
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Crude Oil Price Broke Key Support, Could Decline Further

Key Highlights Crude oil price topped near the $75.20-30 area and declined recently against the US dollar. There was a break below a major bullish trend line with support at $70.40 on the 4-hours chart of XTI/USD. The US Industrial Production in June 2018 increased 0.6%, similar to the forecast. Today in the US, the Building Permits figure for June 2018 (MoM) will...
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GBP/USD Downsides Remain Supported above 1.3950

Key Highlights The British Pound recently made a short-term top at 1.4080 against the US Dollar. There is a crucial bullish trend line in place with support at 1.3950 on the 4-hours chart of GBP/USD. The UK CPI in Feb 2018 increased 0.4%, less than the forecast of +0.5% (MoM). Today, the UK Claimant Count Change for Feb 2018 will be released, which is forecasted t...
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GBP/USD Remains Supported above 1.3750

Key Highlights The British Pound declined recently, but the 1.3760 support prevented further declines against the US Dollar. There is a major expanding triangle forming with support near 1.3680 on the 4-hours chart of EUR/USD. The UK Consumer Price Index increased 3% in Jan 2018, more than the forecast of 2.9% (YoY). In terms of the monthly change, there was a dec...
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GBP/USD Awaits Fed Decision, US CPI and UK Employment Change

Key Highlights The US Dollar and British Pound awaits key risk events today such as the fed interest rate decision, US CPI and UK’s employment report. GBP/USD is forming a contracting triangle on the 4-hour chart with support at 1.3300 and resistance near 1.3480. UK’s Claimant Count is forecasted to post a change of 3.2K in Nov 2017. The feds are likely to inc...
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GBP/USD – Can Cable Continue To Hold 1.3040-1.3000?

Key Highlights The British Pound is holding an important support area near 1.3040 against the US Dollar. There is a major bearish trend line with resistance at 1.3160 on the 4-hours chart of GBP/USD. The UK CPI in Oct 2017 increased 3%, less than the forecast of +3.1% (YoY). Today in the UK, the Claimant Count Change for Oct 2017 will be released which is forecast...
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