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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GBP/USD Restarts Downtrend, 1.2000 Support At Risk

Key Highlights The British Pound declined below the key 1.2150 support area against the US Dollar. GBP/USD traded below a major bullish trend line with support at 1.2175 on the 4-hours chart.The UK Manufacturing PMI declined from 48.0 to 47.4 in August 2019.UK’s Construction PMI could increase from 45.3 to 45.9 in August 2019. GBP/USD Technical Analysis After a dec...
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EUR/USD Tumbles To New 2-Year Low, More Downsides Ahead

Key Highlights The Euro extended its decline and traded below 1.1000 against the US Dollar. EUR/USD might correct higher, but most likely to struggle near 1.1020 and 1.1050.The Caixin China Manufacturing PMI increased from 49.9 to 50.4 in August 2019.The Euro Zone Manufacturing PMI is likely to remain flat near 47.0 in August 2019. EUR/USD Technical Analysis This pas...
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GBP/USD Showing Signs of Short Term Weakness

Key Highlights The British Pound failed to settle above 1.2760 and recently declined against the US Dollar. GBP/USD is likely following a declining pattern and it could test the 1.2600 support area.The UK Manufacturing PMI in May 2019 declined further from 49.4 to 48.0.The UK Construction PMI in May 2019 might increase from 48.6 to 49.3. GBPUSD Technical Analysis This...
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GBP/USD In Major Downtrend Below 1.2750

Key Highlights The British Pound extended its decline below the 1.2600 support area against the US Dollar. GBP/USD remains in a strong downtrend unless it recovers above 1.2750.The UK Manufacturing PMI declined sharply from 53.1 to 49.4 in May 2019.The UK Construction PMI might remain stable at 50.5 in May 2019. GBPUSD Technical Analysis In the past few weeks, there w...
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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 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 Turns South, Could Test 1.2800 Support

Key Highlights The British Pound faced a strong resistance near 1.3050 and declined against the US Dollar. There was a break below a major ascending channel with support at 1.2930 on the 4-hour chart of GBP/USD. The UK Manufacturing PMI in August 2018 declined from the last revised reading of 53.8 to 52.8. Today, the UK Construction PMI for August 2018 will be rel...
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GBP/USD Upsides Remained Capped by 1.3200

Key Highlights The British Pound recovery faced a strong selling interest near 1.3200-10 against the US Dollar. There is a key bearish trend line formed with resistance at 1.3180 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in June 2018 increased from the last reading of 54.3 to 54.4. Today in the US, the Factory Orders report for May 2018 will be rel...
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GBP/USD Breakdown Looks Like Real Deal

Key Highlights The British Pound declined heavily and broke the 1.3950 support area against the US Dollar. There is a short-term connecting bearish trend line forming with resistance at 1.3860 on the 4-hours chart of GBP/USD. The US Pending Home Sales in March 2018 increased 0.4%, less than the forecast of +0.9%. Today, the UK Manufacturing PMI for April 2018 will...
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