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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EUR/USD Remains In Downtrend Below 1.1000

Key Highlights The Euro extended its decline below the 1.0950 support against the US Dollar. A crucial bearish trend line is forming with resistance near 1.1010 on the 4-hours chart of EUR/USD.The Caixin China Manufacturing PMI increased from 50.4 to 51.4 in Sep 2019.The UK GDP in Q2 2019 could grow 0.5% (QoQ), improved from the last -0.2%. EUR/USD Technical Analysis ...
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USD/JPY Breakdown Looks Like The Real Deal

Key Highlights The US Dollar declined heavily after it broke the 108.60 support against the Japanese Yen. A short term bearish trend line is forming with resistance near 106.40 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims in the week ending August 03, 2019 declined from 217K to 209K.The US PPI in July 2019 might increase 0.2% (MoM), more than the last +0.1%...
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EUR/USD at Clear Risk of Further Declines

Key Highlights The Euro formed a significant top at 1.1514 and declined heavily against the US Dollar. EUR/USD broke a few important supports such as 1.1440 and 1.1400. The German Trade Balance in Dec 2018 posted a surplus of €19.4B, better than the €18.4B forecast. UK GDP for Q4 2016 (Preliminary) will be released today, which could grow 0.2% (QoQ). EURUSD...
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GBP/USD – Cable Breaks Significant Resistance at 1.3280

Key Highlights The British Pound traded higher recently and broke the 1.3280 resistance against the US Dollar. There was a break above two crucial bearish trend lines with resistance near 1.3280 on the 4-hours chart of GBP/USD. The US Durable Goods Orders in Oct 2017 declined 1.2% whereas the market was looking for a 0.3% rise. The UK GDP figure for Q3 2017 will b...
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Gold Price Upsides Remain Limited Above $1295 Vs US Dollar

Key Highlights Gold price struggled to settle above $1300 against the US Dollar and moved down. There is a major bullish trend line forming with support at $1270 on the daily chart of XAU/USD. The US Manufacturing PMI in Oct 2017 (Prelim) posted a rise from the last reading of 53.1 to 54.5. Today, the US New Home Sales for Sep 2017 will be released, which is forec...
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GBPJPY – British Pound Under Renewed Selling Pressure Vs Yen

Key Highlights The British Pound after trading close to 142.00 against the Japanese yen found sellers. There GBPJPY pair failed to break a bearish trend line with resistance at 142.00 on the 4-hours chart. The Q4 2016 Gross Domestic Product preliminary release in the UK by the National Statistics was disappointing, as there was an increase of 2% (YoY), less than the ...
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GBPUSD – 1.2240 Holds Key For British Pound; UK GDP Next

GBPUSD – 1.2240 Holds Key For British Pound; UK GDP Next Key Highlights The British Pound recovered recently to trade above 1.2150 against the US Dollar. There is a crucial resistance formed near 1.2220-40, as a couple of bearish trend lines are positioned. Today, the UK preliminary Gross Domestic Product will be released by the National Statistics, which is forec...
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