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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 175006, member: 22847"] [B]AceTraderFx Jan 03: Intra-Day News and Views & data to be released today -GBP/USD Intra-Day Market Moving News and Views[/B] Update Time:[B] 03 Jan 2020[/B] [I]04:30GMT[/I] GBP/USD - 1.3128... The British pound went through a roller-coaster ride yesterday as despite edging up to session highs at 1.3266 in Asian morning, price dropped to 1.3203 ahead of European open before recovering. However, the pair met renewed selling at 1.3230 in early European morning and tumbled to an intra-day low at 1.3116 in New York afternoon due partly to cross-selling in sterling especially vs euro. The pair then staged a short-covering rebound to 1.3160 in Asian morning today before retreating again. Cable's selloff to 1.3116 yesterday suggests recent upmove from last Monday's low at 1.2905 has made a temporary top at 1.3283 on Tuesday and consolidation with downside bias remains for weakness to 1.3094, then 1.3040/50. Offers are now lowered to 1.3140/50 and more above at 1.3160/70 with stops building up above there whilst initial bids are noted at 1.3020/30. Pay attention to the release of UK construction PMI at 09:30GMT. Street forecast is for a slight uptick to 45.9 from previous reading of 45.3. [/QUOTE]
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