GBP/USD Price Analysis: Maintains position above 1.2400 supported by nine-day EMA
GBP/USD looks to extend its losses for the third consecutive day ahead of the Retail Sales data from the United Kingdom, trading around 1.2410 during the Asian session on Friday. The 1.2400 psychological level serves as immediate support, followed by the next support around 1.2350, which is aligned with the nine-day Exponential Moving Average (EMA) at the 1.2353 level. Read more...
GBP/USD Forecast: Pound Sterling faces key resistance at 1.2450
After closing the day virtually unchanged slightly above 1.2400, GBP/USD edged slightly higher in the European session on Friday. The pair is likely to face stiff resistance at 1.2450 and technical buyers could take action once that level turns into support. Read more...
GBP/USD: Upside pressure mitigated below 1.2350 – UOB
In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, the upward bias could lose traction if GBP/USD breaks below 1.2350. Read more...
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EUR/USD continues to grind out further losses
EUR/USD continued to drift into the basement on Wednesday, clipping into a 54-week low and settling within touch range of 1.0550. Fiber continues to shed weight on the charts as broader FX markets pivot full-bore into holding the Greenback.
GBP/USD sheds weight for a fourth straight day on Wednesday
GBP/USD eased further into the low end on Wednesday, trimming further south of the 200-day Exponential Moving Average in a one-sided bearish decline as the pair closes in the red for a fourth consecutive trading day.
Gold extends slide to fresh two-month low
After shedding some ground throughout the first half of the day, the US Dollar is back in fashion. XAU/USD trades at its lowest in two months in the $2,580 region and is technically poised to extend its slump.
Australia unemployment rate expected to remain steady for third straight month in October
The Australian Unemployment Rate is foreseen stable at 4.1% in October. Employment Change is expected at 25K, much lower than the 51.6K posted in September. AUD/USD is under pressure and may soon pierce the 0.6500 mark.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
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