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Thread: GBP/USD

  1. #131
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    GBP/USD sticks to goodish intraday gains appendix-US data, the focus remains around a no-mediation vote

    Market participants remain confident that UK lawmakers will not preserve no-promise Brexit vote.
    Mixed US economic releases failed to extend any maintain to the USD and remained in agreement.


    The GBP/USD pair held on to its precise space through the at the forefront North-American session and is currently placed few pips out cold session tops touched in the last hour.


    With investors looking afterward the overnight management away of the UK PM Theresa May's amended Brexit reach a decision, the pair regained certain traction concerning Wednesday and picked taking place the pace before the in front European trading session. Market expectations that the UK Parliament will not preserve Wednesday's no-conformity Brexit vote turned out to be one of the key factors extending some declare to the British Pound.


    Meanwhile, the US Dollar bulls unproductive to capitalize concerning a goodish rebound in the US Treasury love yields and remained re the defensive furthermore the official pardon of contaminated US macro data, which eventually provided an auxiliary boost and remained approving of the intraday certain have an effect on.


    Data released occurring for Wednesday showed that durable goods orders sharply rose 0.4% m/m lump in January but was largely offset by the disappointing core durable goods orders, showing a 0.1% decrease during the reported month. Adding to this, the producer price index (PPI) furthermore fell rapid of abet expectations and plus did tiny to impress proclaim participants.


    It would now be appealing to see if the pair is skillful to construct upon the sure strengthen or along with once more again rule into some uncompromising supply at in the make unapproachable ahead levels as the focus remains upon today's UK parliament vote upon leaving the European Union without any mediation, which if fails will be followed the last vote for a strengthening of Article 50 upon Thursday.
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  2. #132
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    GBP/USD Price Forecast Range Bound Action Continues As Investors Await Third Vote

    Concerns of a Brexit magnification, its length inspire uncertainty capping GBP gains even if lackluster USD ahead of FOMC update underpins GBP bulls resulting in rangebound price play a role. The GBPUSD pair has been trading furthermore a certain bias for the majority of last week as UK parliaments vote gone hint to Brexit linked decisions saw an appreciative outcome. While the pair hit multi-month highs during last weeks trading session, the pair unsuccessful to sticking together hold and declined slightly as uncertainties surrounding Brexit capped additional upside have an effect on and weighed plus to GBP bulls. However, feeble USD owing to declining US Treasury yields and disappointing US macro data helped prevent throb declines resulting in rangebound violence above 1.32 handle across the latter half of the week. Investors now await PM Mays third attempt/vote in UK Parliament to profit her acceptance overseer by UK lawmakers ahead of EU council meeting by now the members will vote a proposed Britains demand for the further gloss of Brexit deadline. The pair opened for the week once an unconditional bias as the US dollar continues to struggle bearish pressure ahead of upcoming FOMC glamor rate decision update.

    Third Vote & EU Council Meet In Focus
    Investors and traders expect that FOMC will stick to its dovish bias though it keeps impatient rates unchanged owing to recent dovish US macro data. Some traders argue that tackle sponsorship may embrace vis--vis even more dovish note and FOMC members may comment upon the possibility of rate cuts in the near well ahead if US macro data continues to retain dovish appearance. This has helped GBP bulls withdraw a sure bias in the pairs rangebound take disagreement despite uncertainties surrounding Brexit outcome continuing to limit gains. As of writing this article, GBPUSD pair is trading at 1.3260 plus to by 0.27% upon the day. Investors now await UK parliament meeting scheduled upon March 20, 2019, for PM Mays third and conclusive strive for at getting her pact ascribed in the previously EU council decides to vote upon article 50 deadline add details to on request during their meeting upon March 21, 2019.

  3. #133
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    GBP/USD refreshes session low, in the region of mid-1.3100s more or less news of shorter Brexit further gloss date

    EU-27 leaders said to insist May 22 as the Brexit strengthening date rather than June 30.
    FOMC-led USD bearish pressure seems to have abated and adds to the intraday slide.
    Traders now eye UK retail sales data for some impetus ahead of BoE policy update.

    The GBP/USD pair unsuccessful to capitalize on the order of the to the fore attempted recovery and dropped to fresh session lows, on the order of mid-1.3100s in the last hour.

    Having posted a session tall level of 1.3227, the pair met gone some roomy supply in admission to the news that the EU-27 leaders are looking at May 22 as the Brexit enlargement date, greater than a month earlier than June 30 requested by the UK PM Theresa May.

    The reasoning here is that EU-27 leaders sensitive to avoid an embassy feat when the European Parliament elections, due concerning May 23, and gives May less era to draw off her pact through the UK parliament, which was eventually seen exerting some roomy downward pressure on the subject of speaking the British Pound.

    Meanwhile, the recent US Dollar bearish pressure, new infuriated by the Fed's more dovish position than sustain on conventional, now seems to have abated, at least for the period swine, and subsidiary collaborated to the pair's capable intraday slide of regarding 75-80 pips.

    The downside, however, remained cushioned as investors yet seemed reluctant to place any terse bets ahead of the latest BoE monetary policy update and any lighthearted Brexit-related headlines coming out of the EU economic peak, starting today.

    In the meantime, today's UK economic docket, highlighting the pardon of monthly retail sales data, though seems unlikely to be a major game changer, will be looked upon for some hasty-term trading opportunities.

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