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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 213173, member: 80239"] [HEADING=1][JUSTIFY]GBPUSD - The pound is preparing to renew the year's lows[/JUSTIFY][/HEADING] [JUSTIFY]The pound has consolidated near another historical low and is being traded in anticipation of new macroeconomic data but investors are paying attention to consumer sentiment now. Yesterday, Prime Minister Liz Truss said that the issue of rationing electricity tariffs is not worth it, as they will be frozen. Ordinary Britons fear the measure will come at a too high current cost: rates have risen sharply in recent times, putting a heavy strain on households that risk a financial crisis by the start of winter. The US dollar continues to develop positive dynamics in anticipation of today's meeting of the US Federal Reserve. Investors perceived yesterday's data on the housing market as neutral: the number of building permits issued in August decreased to 1.517M from 1.658M, which is a fairly significant drop when taking into account the average values of the current year, and the volume of construction of new houses, on the contrary, showed a significant increase, amounting to 1.575M instead of 1.404M a month earlier. [img]https://i.ibb.co/0yyspL5/gbpusd.png[/img] The trading instrument is moving within the global downward channel, declining along the support line. Technical indicators maintain an increasing sell signal: the Alligator indicator's EMA oscillation range expands, and the histogram of the AO oscillator forms new downward bars. [B]Resistance levels[/B]: 1.1462, 1.1686 | [B]Support levels[/B]: 1.13, 1.11[/JUSTIFY] [/QUOTE]
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