Gold Price Moves Further Into The Red Zone

Key Highlights Gold price is declining and it recently traded below $1,460 against the US Dollar.A key bearish trend line is forming with resistance near $1,462 on the 4-hours chart of XAU/USD.UK’s ILO Unemployment rate declined from 3.9% to 3.8% in Sep 2019 (3M).The US CPI could increase 1.7% in Oct 2019 (YoY), similar to the last reading. Gold Price Technical Analysi...
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GBP/USD Correcting Gains But Remains Well Supported

Key Highlights GBP/USD started a downside correction from the 1.2700 resistance. There are many supports near the 1.2500 and 1.2420 levels.The UK Claimant Count could change 27.9K in Sep 2019, less than the last 28.2K.EUR/USD is holding an important support area near the 1.1000 level. GBP/USD Technical Analysis This past week, there was a sharp increase in the British...
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GBP/USD Recovery Approaching Key Juncture

Key Highlights The British Pound recovered recently after trading as low as 1.2439 against the US Dollar. GBP/USD is now struggling below the 1.2580 resistance and a bearish trend line on the 4-hours.The NY Empire State Manufacturing Index increased from -8.6 to 4.3 in July 2019.The UK Claimant count in June 2019 could change by 18.9K, less than the last 23.2K. GBPUSD Te...
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GBP/USD Could Start Strong Rebound In Near Term

Key Highlights The British Pound found support near 1.2560 and rebounded recently against the US Dollar. GBP/USD broke a major bearish trend line with resistance at 1.2675 on the 4-hours chart.The UK Industrial Production in April 2019 declined 2.7%, whereas the forecast was +0.1%.The UK Claimant Count in May 2019 could change 22.9K, less than the last 24.7K. GBPUSD Tech...
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GBP/USD Trading Near Make-or-Break Support

Key Highlights The British Pound declined recently below the 1.3050 support against the US Dollar.A key bullish trend line is forming with support at 1.2948 on the 4-hours chart of GBP/USD.There are many resistances on the upside near 1.2975, 1.3020, 1.3050 and 1.3060.The UK Claimant Count in April 2019 could change 24.2K, less than the last 28.3K. GBPUSD Technical Analy...
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GBP/USD Rebound Reaching Crucial Juncture

Key Highlights The British Pound corrected higher and broke the 1.2850 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at 1.2970 on the 4-hours chart of GBP/USD. UK’s Rightmove House Price Index for Feb 2019 increased 0.2% (MoM), less than the last +0.4%. The UK Claimant Count figure for Feb 2019 will be released to...
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GBP/USD Approaching Crucial Support Near 1.2800

Key Highlights The British Pound traded as high as 1.3000 and later corrected lower against the US Dollar. There are two bullish trend lines formed with support near 1.2780-1.2800 on the 4-hours chart of GBP/USD. China’s GDP in Q4 2018 increased 6.4% (YoY), less than the last 6.5%. The UK Claimant Count for Jan 2019 will be released today, which could change 20....
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GBP/USD Recovery Could Face Many Hurdles

Key Highlights The British Pound declined sharply below the 1.2950 support against the US Dollar. There are two bearish trend lines in place with resistance at 1.2820 and 1.3010 on the 4-hours chart of GBP/USD. The pair could correct higher, but it is likely to face sellers near 1.2800 and 1.2850. Today, the UK Claimant Count Change figure for June 2018 will be re...
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GBP/USD Back Above 1.3220, More Gains Possible

Key Highlights The British Pound was rejected from the 1.3100 support area against the US Dollar. There was a break above a major connecting bearish trend line with resistance at 1.3230 on the 4-hours chart of GBP/USD. The US Retails Sales in June 2018 increased 0.5% (MoM), similar to the forecast. Today in the UK, the Claimant Count Change for June 2018 will be r...
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Can GBP/JPY Continue Trading Higher?

Key Highlights The British Pound made a nice upside move and traded above 149.00 against the Japanese Yen. There is a major ascending channel forming with support at 148.20 on the 4-hours chart of GBP/JPY. The UK Claimant Count Change came in at 9.2K in Feb 2018, compared with the forecast of -5.0K. Today, the BOE interest rate decision is scheduled and the market...
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