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United Kingdom Retail Sales m/m

Today at 9:30am UK Time. Retail Sales m/m reflect a change in the UK retail sails in the reported month compared to the previous one. It is used in forecasting, budgeting for UK financial and economic policy. F: 0.5%, P:-0.2%. #GBPUSD may test 1.25

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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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Market Recap: 7 - 11 October

 

 
On Tuesday last week we covered the AUDUSD which spent the rest of the week drifting a little lower before reversing and moving back above the key 0.6750 level to reach its highest level in three weeks. In the last few weeks the AUDUSD had fallen sharply back down to the key 0.6750 level where it has met some support for around one week before dropping through to a ten year low near 0.6670. The AUDUSD has rallied well in the last two weeks to return back above the 0.6750 level.
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GBPUSD - Surges to 1.2450 after Positive Brexit Meeting

 

 
In the last 24 hours the GBPUSD has surged higher to a two week high around 1.2450 after looking like drifting lower below 1.22. The 1.25 level continues to loom like a dark cloud likely to resist prices should it continue to move higher. 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. 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.
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United Kingdom Gross Domestic Product (GDP) m/m

Today at 9:30am UK Time. UK GDP q/q shows changes in the market value of goods and services produced in the country in the given month compared to the previous month, and is the key indicator of the national economy growth. F: 0.0%, P: 0.3%. #GBPUSD may drop below 1.23.

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Valutrades Market Blast Fundamentals 7 October 2019

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Market Recap: 30 September - 4 October

 

 
On Tuesday last week we covered UK Oil which spent the rest of the week drifting lower before reversing and moving back above the key $58 level. In the last three weeks UK Oil has fallen sharply back to its popular trading range between the key levels of $58 and $60. This fall started from a three month high above another key level in $68 which has provided some resistance in the last three months, which it reached after an incredible surge higher. Just prior to the surge it has eased back towards the key $60 level, as throughout most of August UK Oil traded within a narrow range mainly between $58 and $60 with the former level providing some support, which it is doing again now.
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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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Valutrades Market Blast Technicals 1 October 2019

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Valutrades Market Blast Fundamentals 30 September 2019

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