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GBPUSD - Surges to Five Month High Above 1.28 as Brexit Meetings Continue

 

 
In the last week the GBPUSD has surged strongly higher to a five month high above 1.28 after smashing through the key 1.25 level which has resisted prices strongly in the last month. The 1.25 level may now reverse roles and provide some support should the sterling decline from its current highs. Prior to the surge, it had settled right around the 1.23 level after falling away from the key 1.25 level, where it met stiff resistance for nearly two weeks.
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Valutrades Market Blast Fundamentals 14 October 2019

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GBPUSD - Settles around 1.23 after Latest Brexit Deal

 

 
In the last four days the GBPUSD has settled right around the 1.23 level after falling away from the key 1.25 level, where it met stiff resistance for nearly two weeks. Just prior to the resistance at 1.25, the GBPUSD enjoyed a strong surge higher to a one month high above 1.25, but was sold down strongly at anything above that level, whilst the resistance above at 1.27 loomed like a dark cloud. The sterling did meet some resistance around 1.23 towards the end of August and this level is now providing some support for the time being. The 1.25 level is highly likely to offer more resistance should the sterling rally from its present levels.
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GBPUSD - Surges to Above 1.22 after PM Loses Election Call

 

 
In the last 24 hours the GBPUSD has enjoyed a strong surge higher to a one week high after threatening to break lower through the current key support level at 1.20. The sterling did meet some resistance around 1.23 two weeks ago and this may put a lid on any enthusiasm for it to rally much higher. For the last month the GBPUSD has been able to consolidate and receive solid support off the 1.20 level, allowing it to stop the rot and take a breather from its drastic falls in the last three months.
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GBPUSD - Consolidates Above 1.21 as BOE Cuts Growth Forecasts

 

 
In the last week the GBPUSD has stopped the rot and consolidated right above support at 1.21 allowing it to take a breather from its drastic falls in the last month. Only two weeks ago the GBPUSD fell heavily from 1.24 down to its present trading levels, although it had been declining for several weeks after falling through the key 1.27 level. It was only at the end of June that the GBPUSD reached a one month high near 1.28 before its steady but strong decline in the time since.
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GBPUSD - Rallies to 1.25 after New British PM

 

 
In the last few weeks the GBPUSD has eased lower after falling through the key 1.27 level. Less than two weeks ago, it fell to its lowest level in more than two years below 1.24 however it was quickly bought up and rallied to above 1.2550. The last three weeks has seen the sterling traded in a narrow range between 1.24 and 1.2550. Several weeks ago it reached a one month high near 1.28 before falling away.
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GBPUSD - Rallies to 1.25 as Fears of no-deal Brexit Persist

 

 
Despite rallying a little in the last couple of days to back above 1.25, the GBPUSD has fallen sharply in the last few weeks from above the key 1.27 level down to a seven month low below 1.2450. A few weeks ago it reached a one month high near 1.28 before falling away. The sterling has been attracted to the 1.27 level for the last two months as the GBPUSD has been content to trade very little and consolidate right around this level.
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GBPUSD - Consolidates around Key 1.27 Level as Boris Johnson Hardens His Brexit Position

 

 
For the last few days the GBPUSD has eased ever so slightly away from a one month high near 1.28 but in doing so, has just returned to the key 1.27 level which has accommodated the sterling now for the last month. It did fall away down to 2019 low close to 1.25 a week or so ago however it also rallied strongly and returned to the 1.27 level just as quickly. For the last month now, the GBPUSD has been content to trade very little and consolidate right around the key 1.27 level.
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Valutrades Market Blast 18 June 2019

Welcome to this week’s Market Blast.

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GBPUSD - Consolidates around Key 1.27 Level as MPs Reject 'No-deal' Brexit

 

 
For the last week or so the GBPUSD has been content to trade very little and consolidate right around the key 1.27 level. It had done well a week or so ago to rally a little and get its head back above the current key level of 1.27 after having fallen to its lowest level this year below 1.2560. Significantly through most of May, the GBPUSD fell sharply from the key level at 1.32 down to the five month low before rallying recently.
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