GBP/JPY Signaling Bullish Continuation Above 147.00

Key Highlights The British Pound recovered and broke the 146.40 resistance against the Japanese Yen.GBP/JPY cleared a crucial bearish trend line with resistance at 145.80 on the 4-hours chart.The UK Construction PMI in March 2019 increased from 49.5 to 49.7.The UK Services PMI for March 2019 is likely to decline from 51.3 to 50.9. GBPJPY Technical Analysis This past w...
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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 Hesitates, But Further Gains Seem Likely

Key Highlights The British Pound recovered nicely and settled above the 1.2900 resistance against the US Dollar. There was a break above a significant bearish trend line with resistance at 1.2800 on the 4-hours chart of GBP/USD. The UK Services PMI in Oct 2018 declined from the last reading of 53.9 to 52.2. Today, the Euro Zone Services PMI for Oct 2018 will be re...
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GBP/USD Turned Bearish Below 1.4100?

Key Highlights The British Pound traded lower recently and broke the 1.4100 support against the US Dollar. There was a break below a major bullish trend line with support at 1.4060 on the 4-hours chart of GBP/USD. The US ADP Employment Change in March 2018 posted a rise of 241K, more than the forecast of 205K. Today, the UK Services PMI for March 2018 will be rele...
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GBP/USD – Can British Pound Break 1.3600 Vs US Dollar?

Key Highlights The British Pound is moving higher and is currently trading above the 1.3420 support against the US Dollar. There is a crucial bullish trend line forming with support at 1.3430 on the 4-hours chart of GBP/USD. The US Factory Orders declined by 0.1% in Oct 2017, less than the forecast of -0.4%. Today, the UK Services PMI for Nov 2017 will be released...
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USD/JPY – Dollar In Steady Uptrend Vs Japanese Yen Ahead of NFP

Key Highlights The US Dollar remained elevated above the 113.50 pivot against the Japanese Yen. There is a crucial bullish trend line in place with support at 113.60 on the 4-hours chart of USD/JPY. The US Non-farm Productivity in Q3 2017 (Preliminary) rose 3%, compared with the +2.4% forecast. Today, the US nonfarm payrolls report for Oct 2017 will be released, w...
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GBPUSD Eyeing Services PMI For Gains

Key Highlights In the last 24 hours the British Pound has surged higher, however it has run into resistance right around the 200 hourly MA, and eased slightly lower in recent hours. UK Services Purchasing Managers Index (PMI) will be released by both the Chartered Institute of Purchasing & Supply and the Markit Economics, and expected to decline from 58.9 to 58.5. G...
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