GBP/USD Nosedives Below Key Support, More Losses Likely

Key Highlights The British Pound formed a top near 1.2815 and later declined sharply against the US Dollar. There was a break below a major ascending channel with support at 1.2650 on the 4-hours chart of GBP/USD. The US Manufacturing PMI in Dec 2018 declined from the last revised reading of 55.3 to 53.8. Today in the US, the ADP Employment Change figure for Dec 2...
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EUR/USD Facing Major Hurdle Near 1.1460

Key Highlights The Euro recovered recently and traded above the 1.1350 resistance against the US Dollar. There is a key connecting bearish trend line in place with resistance at 1.1460 on the 4-hours chart of EUR/USD. The US Industrial Production in Oct 2018 increased 0.1%, less than the +0.2% forecast. Today in the US, the NAHB Housing Market Index for Nov 2018 w...
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