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  1. #1
    Legendry Member milos's Avatar

    Gbpusd breaks 1.57 today! !!!

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    The pound continued to rise against the dollar supported the good news from the labor market in the UK. Number of people who applied for unemployment benefits in May fell on analysts' expectations and the official unemployment rate remained at the same level. According to the Office for National Statistics the number of applications dropped by 8,600 which is better than the expected 5,000. The unemployment rate remained at 7.8%. in the morning sterling rose 0.05% against the dollar. The British pound continued to be stable moving near a four-month peak against the U.S. dollar. Uncertainty about future monetary policy of the Federal Reserve caused the decline of U.S. currency which has further strengthened the currency pair. During this week a number of positive economic data published in the UK along with the good news from the labor market have raised optimism that the second quarter will recover as the economy had a positive impact on sterling. During the US trading session currency pair breaks 1.57 and it goes to 1.57400 and then pullback below 1.57

    Key levels
    1.588 resistance
    1.582 resistance
    1.574 resistance
    1.5692 last
    1.563 support
    1.56 support
    1.5565 support

  2. #2
    Senior Member Deanfx's Avatar
    GBP/USD trading is a bit choppy this week. It looks greatly overbought and this significantly impedes the continuation higher of this pair. I won’t trade any calls here till significant retracement happen.

  3. #3
    Legendry Member milos's Avatar
    The British pound continued to rise against the U.S. dollar despite good economic data released in US.Positive reports have recently been published in the UK signaled the recovery of the British economy.which continues to support the pound.Investor are still very cautious because of the uncertainty about future FED policy.Today currency pair fell to 1.561.Today will be published strong economic data in America which may caused more turbulence.

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