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GBPUSD tilts lower for a bit, but sell off is modest. Buyers and sellers battling.

“The price of the GBPUSD tried to tilt a bit lower after running above the 100 hour MA (blue line) target and the 50% retracement earlier in the day” reports forexlive.com. The high price did stall at the December 5 swing low.After the sharp run higher, a retracement is not surprising and the price did move back below the 50% and the 100 hour MA.  However, the correction has been modest and there is a risk that the break fails. Source: forexlive.com Share This:

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GBPUSD trades to new session lows on no-confidence vote rumblings.

“Looking at the hourly chart, the 1.2468 is a lower trend line with a number of tests including the low from yesterday” reports forexlive.com. Earlier the price on the pair fell back below a broken trend line which turned the bias back to the downside ( Earlier the price on the pair fell back below a broken trend line which turned the bias back to the downside ( see post here ). Source: forexlive.com Share This:

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GBPUSD moves to new session highs of the day

“Can the price stay above the 200 hour MA this time for an extended run?” reports forexlive.com. The GBPUSD is moving to new session highs and in the process moved back above its 200 hour MA. That is more bullish but not that the last 5 trading days has seen the price move above that MA level at some points during the day, but each failed after relatively short periods of times (at least this week). Source: forexlive.com Share This:

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Markets News 

GBPUSD moves to lowest level since early September, but bounces. Tired?

“The trend line can be a level traders can lean against as risk for those looking for a corrective bounce trade” reports forexlive.com. A move below the trend line would not be welcomed by any dip buyers.Fundamentally,the market is worried about the Brexit situation with the cabinet minister meeting today quite contentious (according to sources).The GBPUSD moved to a new 7 week low (lowest since September 5th) and in the process fell below a lower trendline on the hourly chart (see red circles in the chart below). Source: forexlive.com Share This:

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GBP/USD fall continues as dollar stays bid, pound weighed down by domestic politics

“With GBP/USD gains capped by the near-term trendline resistance, we’re seeing a move back lower now in the pair as the dollar gains traction on the day alongside some pound weakness” reports forexlive.com. But it’s all about headline risks for the pound and that’s what traders will have to deal with this week.We’re entering a phase of the year where dollar bids are generally more often to come by as funding demand starts to grow for the greenback. That should help to underpin the greenback on days like these as…

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Pound’s advance stalls as buyers fail to claim near-term control

“Well, the pound is fast giving back some of its earlier gains from the Brexit headline earlier” reports forexlive.com. On what has been an otherwise quiet day, pound buyers capitalised on that but it’s not enough to justify a price break to shift the near-term momentum back to favour the quid at the moment.The high for GBP/USD so far reached 1.3060 and stalled right at the 200-hour MA (blue line) and now price is retracing back lower. Source: forexlive.com Share This:

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