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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 170761, member: 22847"] [B]AceTraderFx Oct 02: Intra-Day News and Views & data to be released today - GBP/USD[/B] [B]Intra-Day Market Moving News and Views[/B] Update Time: [B]02 Sept 2019[/B] [I]04:30GMT[/I] GBP/USD - 1.2288... The British pound moves narrowly in Asian session after yesterday's roller-coaster ride. Although cable gained from 1.2260 to 1.2312 in Europe on Tuesday, price dropped to a 26-day low at 1.2205 in New York morning on cross-selling in sterling. However, the pair then rallied to session highs at 1.2340 after Bloomberg reported that EU is ready to consider a time-limit on Irish backstop as well as weak U.S. manufacturing data before weakening to 1.2260. Price then rebounded to 1.2314 before moving broadly sideways. Despite cable's resumption of decline from September's 2-month peak at 1.2582 to 1.2205 yesterday, subsequent rally to 1.2340 suggests temporary low is in place and further gain towards 1.2360/66 would be seen after consolidation, however, reckon 1.2381/93 would remain intact and yield retreat. Bids are noted at 1.2270-60 with stops below 1.2240 while offers are tipped at 1.2310/20 with more above and stops above 1.2380. The only economic data coming from the UK today is Markit construction PMI. However, traders should keep an eye out for any Brexit development. [/QUOTE]
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