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GBP Daily Fundamental Analysis


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Pound exchange rate movements in the Asian session moved down against USD, having opened weaker at 1.5009 in early trading , the pound exchange rate was down around 3 pips also the value of the rolling is at 1.5012. Pound exchange rate in Asian session trying to rebound from a weaker 3 days to take advantage of USD weakening momentum. 

 

Earlier weakening in the pound triggered by the poor fundamentals of economic data released last such data from Halifax. Quiet the fundamental direction of USD today on the eve of potentially lift the pair GBPUSD and sought their markets BOE rate hike plan.

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Pound/GBP movement against USD in Asia Session is recently rising after opened weakening at 1.49035 in the early trading. GBPUSD successfully continuing the strengthening trend last week because of  positive sentiment in Europe session from GFK consumer data and Britain's industrial report. Slow as sure GBP still find it's hard to rally, and i predict that the price may weakening once more by USD rebound on New York session tonight.

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GBPUSD on Asia session seems weakening after opened at 1.45446 in the opening, that was down around 7 pips. As expected since this is a correction to the price which rise quite nice yesterday but fundamentally the price will be in volatile since today Manufacturer Production data will release and may push GBP to the higher level again, but if theprice is out of the expectation in this case lower USD may  do a reversal and fall back to the previous support level.

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GBP exchange rate movements were the strongest since trading the Asian session on Monday  after the weekend drop continued in European trading session gets positive sentiment from the UK manufacturing data although besides weakening US dollar.

 
Markit Economics announced indicator that assesses the performance of the manufacturing country or region British English January Manufacturing PMI rose to 52.9 points position was in December 2015 in a position of 52.1 points. Score this indicator also exceeded expectations indicator decline to 51.8 positions and is the best in the last 3 months.
 
Pound exchange rate movements in the European session strong moves against US Dollar, after opening at 1.42348 in early trading. For further trade until the close of trading tomorrow, it seems that GBPUSD pair could rise again to the resistance range 1.43929 to 1.45304. But if there is a correction will come down to around 1.41281.
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GBPUSD exchange rate movements in Asia session moved lower against USD, after opening the position at strong price (1.44365) in early trade on Asian session moving GBP weaker after a positive opening, but the European session

sentiment may rise again by inflation data.

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This data is expected to show an increase in UK inflation in January which has become one of the burdens for the BOE raising rates. Although the dollar last rose to the evening session, the pair GBPUSD rebound by the inflation data.

 

GBPUSD potential to rise to the level of 1.44709 and a break, going into yesterday's highs at the 1.45358 and to around 1.44702 if cannot break it, then the pair will fall back towards 1.43951.

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Pound is totally weakening against US Dollar since EU session, this potentially because of Mark Carney's speech in front of UK's parliament as Governor of BOC warn that Brexit plan will be bad for UK's economy and push some banks to leave london. With the price is moving a around 1.41986 this pair(GBPUSD) may fall deeper to around 1.41777 or at most to around 1.40615 until the end of New York session.

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GBP observed is strengthening against US Dollar on Asia session after opened in weak position at 1.43011. Pound Asian session returning corrected continued profit-taking pressure earlier in the week amid the market's attention against Yen after the fixed interest rate established BOJ today. BOJ's decision this morning to make the pound plunged 100 pips against the yen.

 

But the movement of the evening session can be corrected up if Dollar is getting weaker due to poor data releases US PPI and retail sales will be released. If that is true, the price may rise to 1.44236 but if not fall to 1.423110

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I tried to trade this pair late last wekk but what I get here was a bit slice different this business need our knowledge more in almost all the pair I think what to be done now is perfect working hard because when I attempt to trade false breakout sometime ago i fail

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It seems in EU session the exchange rate movements of Pound against USD move weakly, especially after the price opening which is higher at 1.3257 in early trading, the pound exchange rate rose 0.4% and the value of the rolling is at 1.3213.

 

European session pound exchange rate could not continue due to its poor fundamentals rally where GBP exchange rate get mixed inflation data such as the consumer level, producer and retail goods. Additionally pair may be weakened by the strong US dollar responds to the  property data in United Statesy.

 

It seems GBPUSD today can go up to the range 1.3362 - 1.3492 or a bit further and if it is not able to ride this afternoon, the correction pair may be up to the range of 1.3103-1.2989.

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European session pound exchange rate movements moving strongly against the US dollar, after the opening price higher at 1.32419 at the start of trading, the Pound exchange rate rose 0.8% and the value of the rolling is at 1.31722

 

Exchange rate of the European session pound moved lower by profit-taking market is responding to the bad economic data that show the performance of the UK manufacturing survey by Markit which is increasingly contraction.

 

It seems that GBPUSD could fall into the range 1.30870- 1.30290, but if it does not reach the range, it can rise again reaches the range between 1.33085-1.33475. So the normal range of GBPUSD pair is estimated to have the support level at 1.29921 and the resistance level at 1.34146.

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The exchange rate of Pound in the middle of European session forex trading moved back positive after being weakened as the European session opened, which caused a positive response because of the result of UK PMI construction data. Before the data was released pound weakened by disappointing data estimates, but soon reversed direction when the data is positive.

Markit issued the report performance data for the UK construction in July which shows the data increases attenuation exceeding expectations and slightly below the previous data. The index fell to 45.9 from 46 in June, higher than the 44.2 forecast.

For the next trade until the close of trading American session ends tomorrow morning, it looks like GBPUSD can climb back into the range of 1.3280-1.3310. But if it does not reach this range, this pair will fall back to around 1.3135.

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In forex trading Wednesday's European session pound exchange rate movements weakened after opening lower at 1.33582 at the beginning of the Asian trading session, the exchange rate pound fell 25 pips or 0.3% and the value of the rolling is at 1.33334.

 

Markit issued a data report showed service sector business conditions for British nationals who scored in the same position with the expected decline from the previous month period. Scores months earlier in a position this afternoon reported 52.3 and 47.4 in the position which was the first contraction since December 2012. In addition, the market is still cautious ahead of BOE meeting tomorrow's results.

 

For the next trade until the close of trading American session ends tomorrow morning, it looks like GBPUSD could fall again to around 1.32538-1.32046. But if it does not reach this range, the pair will rise back to around 1.32949.

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The movement of Great Britain Pound on European session drifted lower against US dollar, after opened higher at 1.31062 at the start of trading, next the pound exchange rate fell 0.4% and then the rolling value is at 1.31499.

 

Pound on European session exchange rate is naturally strengthening against the US dollar weighed BOE decision to cut interest rates as expected and prudent market of NFP data will be released tonight.

 

Technically GBPUSD could rise to around 1.31932-1.32570, but if it does not reach the range, the pair could drop to 1.30650-1.30710. Normal range GBPUSD pair today is expected to have the support level at 1.29320 and the resistance level at 1.33678.

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After observing the movement of GBP exchange rate on European session on Monday, GBPUSD pair has continued selling pressure entering the third consecutive day. US dollar fundamentals that receive power from positive US NFP data late last week made a pair rebounded effort weak .

 

In the European session forex trading at the price opened at the lower price which is exactly at 1.30782 as it seems the signal of weaker Pound is true especially in early Tokyo Session. In EU session Pound exchange rate fell by 11 pips and the rolling values are at 1.30677.

 

For the next trade until the close of trading American session which ends tomorrow morning, it looks like GBPUSD could fall again into the range of 1.30287-1.29343. But if it does not reach this range, the pair will rise back to around 1.31180.

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Pound exchange rate movements in Asian session is weakening against US dollar, after opened lower at 1.3039 in early trading. The price of GBPUSD is at 1.29772 .Exchange rate of  pound in Asian session has continued the trend of weakening 4 consecutive days before that did not have strong economic data trying to sustain a business.

 

But European session could rebound if the UK manufacturing production data showing a rise in the ONS survey data exhibited significantly exceeded expectations for a rise. It looks like GBPUSD may rise to 1.30753-1.31082 range if the weakening of the pair until later in the day did not reach the range of 1.29670-1.29247.

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After five days experienced selling pressure was so great that plunged to its lowest since 11th July trade, exchange rates and the pound managed to rebound immediately rallied to trade the European session on Wednesday, although no fundamental data which shows some domestic sentiments. Strength of Pounds throughout the day obtained from the collapse of US dollar even it had risen after last weekend after the US non-farm payrolls in July.

 

In forex trading the European session opened Wednesday with the pound exchange rate movements that rally and opened lower at 1.3002 in early trade and the rolling value is at 1.30789.

 

For the next trade until the close of trading American session ends tomorrow morning, it seems that GBPUSD can climb back into the range of 1.31150-1.31611. But if can not reach that range, the pair will fall back to around 1.29803.

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Sterling rebounded against US dollar last only one day, and then only slightly higher, and the middle of European trading session on Wednesday in which the exchange rate of British pound is in the lowest position in the first months of trading more. The pound still has the charm of a strong lure market, the opposite signs of economic weakness of the release of economic data that emerged after Brexit.

 

Today there are reports in the UK house price survey by the Royal Institution of Chartered Surveyors (RICS), which further depress the pound, the article of the increase in house prices in the last 3 months is lower than 3 months earlier. House prices during the three months to July fell to 5 per cent compared to 15 per cent during April to June.

 

For the next trade until the close of trading of New York session ending tomorrow morning, I think the GBPUSD will be able to descend again into the range 1.29181-1.28582. But if it does not reach this range, the pair will rise back to around 1.30596.

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After statistical office EURO area countries reporting data on GDP prelim second quarter of this year, the euro exchange rate movements on EU session on Friday strengthened significantly against US dollar. In addition to the Q2 GDP data member of Euro countries also released Q2 GDP data for the region, and the data is still in line with forecasts.

Although the general economic growth in the Euro area countries declined from the first quarter of this year, but the market saw economic conditions of these countries are still stable after Brexit. Because economists had been predicting a considerable decline in GDP exhibited significantly these countries but the data reported higher statistical office.

For the next trade until the close of trading ending the American session tomorrow morning, it looks like GBPUSD pair can rise to the range 1.1160- 1.1194. But if there is a correction i think that GBPUSD will come down to around 1.1112.

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The global market participants to reconsider the impact Brexit to economic conditions the country who decided to come out of the EU, where economic data releases issued by the government and the Bank of England a few weeks after the country's referendum showed negative performance. The poor economic performance over the past month making the market still leave the pound exchange rate.

Pound exchange rate movements in the European session turned out to be dropped against US dollar, after opening higher than the previous trading at 1.29212 in early Asian trade, the pound exchange rate of natural attenuation 63 pips and is now in the range of 1.28856. The pace of further euro will still be overshadowed by the release of US economic data evenings.

For the next trade until the close of trading in the end of New York session tomorrow morning, GBPUSD is expected to rise to a range between 1.28554- 1.28329. But if there is a correction will go up to around 1.29510 or lower.

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Exchange rate pound Asian session managed a technical rebound after three consecutive days depressed by the fundamental weakness of the pound after some poor economic data recently released and fell to its lowest in 31 years after a referendum Brexit latest two months ago. But in the European session GBPUSD pair overshadowed a mixed sentiment of several releases economic data.

 

Technically GBPUSD will go up to the range between 1.29300-1.29652, but when it comes to the range it can be corrected back to the range of 1.28302-1.28042. So the normal range on the GBPUSD pair is estimated to have the support level at 1.27304 and the resistance level at 1.29927.
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In the middle of forex trading Wednesday, the British Office for National Statistics (ONS) was trying to lure the global market participants to hunt pounds back. Together ONS reported several indicators that support the labor market performance of the British state wage increases ranging from data, jobless claims and the unemployment rate.

 

For the period of wage increases in June were reported to be higher than the previous period even below economists' expectations, jobless claims successfully reduced very much from the previous period and the unemployment rate is still the same as the previous period. When the positive data released direct quid positive movement but soon trimmed back by US dollar sentiment.

 

For the next trade until the close of trading ending the American session tomorrow morning, I think the GBPUSD pair could fall to a range between 1.29850 1.29548. But if it is not to be corrected rose to 1.30850.

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Pound exchange rate in Asian session had rallied towards the strong resistance range but pulled back once again. The pair potential to rally back in the European session after the release of the British retail sales in July are expected to show an increase in data.

GBPUSD may rise to 1.3101-1.3147 range given the data showing an increase in the data, but if it is not up to the range, it can be corrected back to the range of 1.3000-1.2945. So the normal range on the GBPUSD pair is estimated to have the support level at 1.2882 and the resistance level at 1.3197.

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GBP or Pound exchange rate today on Tokyo session that had opened higher eventual retreat back by profit taking the market although this afternoon will receive a positive sentiment of the release of economic data later in the day from the UK Office for National Statistics (ONS), which announced data of PSNB. This data is expected to show a lower data from the previous period of good omen for the pair.

 

GBPUSD  today may rise to 1.3203-1.3257 this afternoon and if retreat was not until the range between 1.3070-1.2995. So I argued that the normal range of GBPUSD pair is estimated to have the support level at 1.2940 and the resistance level at 1.3323.
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