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Thread: GBP/USD

  1. #81
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    GBP/USD 22/07/2016
    Sterling slumped below the 1.3100 handle after PMI surveys showed Britain’s business activity weakened in the wake of the Brexit vote, strengthening expectations of Bank of England policy easing next month to stimulate growth. The PMI survey of services sector purchasing managers dropped to 47.4 in July from 52.3 in June, its lowest reading since March 2009. The manufacturing PMI declined to 49.1 from 52.1 in June, while the composite index fell to 47.7 from 52.4, the weakest since April 2009. Sterling shed 1 percent to 1.3091 from 1.3270 beforehand. Any break below 1.3065 confirms minor weakness, a decline till 1.3000 is possible. Technically any break above 1.3330 will take the pair till 1.3350/1.3480. Against the euro, the pound trades 1 pct lower at 84.11 pence.

  2. #82
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    GBP/USD gain some upside momentum but still bearish.


    • GBP/USD declined in the earlier session to hit low at 1.3094 levels. However, the currency pair recovered after US equity markets edged lower as a 2 percent drop in crude prices weighed on investor sentiment.

    • Currently the pair is consolidating around 1.3143, nevertheless, short pullback towards 1.3230 levels should be viewed as selling opportunities as the resistance level at 1.3272 is set to hold the bulls from advancing further above and push the pair towards lower levels in the short term.
    • To the upside, immediate resistance can be seen at 1.3150, a break above this level would expose the cable to next resistance level at 1.3211.
    • To the downside strong support can be seen at 1.3070, a break below at this level will open the door towards next level at 1.3000.




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  3. #83
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    GBP/USD 26/07/2016
    Sterling recovered after declining below 1.3100 handle following Bank of England policymaker Martin Weales dovish comments. The major struck to a 2-week low of 1.3056 after Weale stated that recent weak UK data had convinced him monetary policy should be eased immediately, in order to avoid the economy from entering into recession. Sterling trades flat at 1.3135, attempting to sustain gains above the 1.3100 level. Any break below 1.3060 confirms minor weakness, a decline till 1.3000 is possible .Technically any break above 1.31690 (21 DMA) will take the pair till 1.3191/1.3290. Against the euro, the pound trades 0.2 percent lower at 83.89 pence.

  4. #84
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    GBP/USD 27/07/2016
    Sterling slumped below 1.3100 handle, despite Britain posting better-than-expected gross domestic product figures for the second-quarter. According to ONS, UK’s economy grew by 0.6 percent, up from 0.4 percent in the first three months of the year. On yearly basis it stood at 2.2 percent, surpassing consensus and previous 2.0 percent. The weakness in the major comes in after Britains CBI Distributive Trades Survey for the month of July came in at -14, against market projects of 1 and prior 4. Sterling trades 0.2 percent lower at 1.3098, hovering towards a 2-week low of 1.3057 struck in previous session. Any break below 1.3060 confirms minor weakness, a decline till 1.3000 is possible. Any break above 1.31805 (200 HMA) will take the pair till 1.3290. Against the euro, the pound trades 0.3 percent lower at 83.90 pence, having touched a low of 84.12 pence earlier in the session.

  5. #85
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    GBP/USD 29/07/2016
    Sterling edged up, but continues to hover below the 1.3200 handle as investors expect Bank of England to cut interest rate at its policy meeting next week. Data released earlier showed that Britains June consumer credit rose to 1.837 bln GBP, while mortgage approval declined to 64.766K. M4 money supply for the month of June came in at 1.1 percent, surpassing expectations of 0.4 percent and on annual basis it stood at 3.5 percent versus previous 1.8 percent. Sterling trades 0.1 percent higher at 1.3177, having touched an intra-day high of 1.3217. The BoEs is likely to cut rates by a quarter point from the current record low of 0.5 percent at the 2-day meeting, which concludes on Thursday. On the higher side, minor support is around 1.3100 and break below targets 1.3060/1.3000. Any break above 1.3250 will take the pair till 1.3290. Against the euro, the pound trades 0.3 percent lower at 84.34 pence.

  6. #86
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    GBP/USD 01.08.2016
    Sterling failed to sustain gains above the 1.3200 handle, after downbeat manufacturing sector survey increased worrying signs on the economy ahead of a Bank of England meeting. Britains Markit Manufacturing Purchasing Managers Index (PMI) for the month of July declined to 48.2, against consensus and previous 49.1. Sterling trades 0.4 percent lower at 1.3170, pulling away from a high of 1.3301, struck in the previous session. On the higher side, minor support is around 1.3160 (200 HMA) and break below targets 1.3100/1.3060/1.3000. Technically any break above 1.3300 will take the pair till 1.3480. Against the euro, the pound trades 0.4 percent lower at 84.73 pence.

  7. #87
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    GBP/USD rallies towards 1.3323 but reversal is likely


    • GBP /USD pair advanced towards 1.3323 levels in today’s US session after buyers stepped in, following further stimulus measures by Japan and surge in Britains construction PMI which came slightly better than expected.

    • However, further gains should be limited as the resistance level at 1.3400 levels should limit upside and bring a decline towards lower levels.
    • To the upside, the immediate resistance can be seen at 1.3318, a break above this level would take the pair towards next resistance level at 1.3383.
    • To the downside immediate support can be seen at 1.3268 levels, a break below this level will open the door towards next level at 1.3215.





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  8. #88
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    GBP/USD 03.08.2016
    Sterling recovered after declining to an early low of 1.3287. The major was provided some support after Britains Markit service PMI for July came in line with consensus and previous 47.4. Investors now await Bank of England policy decision on Thursday, where markets price in a quarter point cut in the banks interest rate. Sterling trades flat at 1.3353, within the sight of a 3-week high of 1.3371 touched earlier in the session. Against the euro, the pound trades at 0.2 percent higher at 83.85 pence. On the lower side, minor support is around 1.3280 and break below targets 1.3240/1.3160.Technically any break above 1.3300 will take the pair till 1.3480.

  9. #89
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    GBP/USD 04.08.2016
    Sterling slumped below the 1.3200 handle after Bank of England cut interest rates for the first time since 2009 and stated that it would buy 60 billion pounds of government debt to ease the Brexit fallout shock. The central bank lowered its main lending rate to a record-low 0.25 percent from 0.5 percent, in line with market consensus and raised the target for QE government bond purchases to 435 billion pounds from the 375 billion. Sterling trades 1.1 percent lower at 1.3169, having traded above 1.3300 before the BoE decision. Any violation below 1.3200 will drag the pair down till 1.3100/ 1.3060/ 1.3000 in the short term. On the higher side trend reversal happens only above 1.3375.The minor resistance is around 1.3300. Against the euro, the pound trades 0.9 percent lower at 84.42 pence.

  10. #90
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    GBP/USD 05.08.2016
    Sterling recovered some ground against both the dollar and euro after declining on the Bank of England’s package of new stimulus for Britains slowing economy. However, UKs downbeat Halifax House Price figures capped the recovery mode. Britains Halifax House Price Index for the month of July declined 0.1 percent from 1.2 percent in June. Sterling gained 0.3 percent to 1.3149, pulling away from a low of 1.3102 touched post-BoE policy outcome. Any violation below 1.3100 will drag the pair down till 1.3060/1.3000 in the short term. On the higher side intraday bullishness can happen only above 1.3200. Overall bearish invalidation is only above 1.3375. Against the euro, the pound trades 0.1 percent up at 84.77 pence.

  11. ARIONFORXtarder
 

 
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