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Alert - 09:45 (CET) - GbpUsd
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The Sterling is rebounding in the European session, after hitting one month lows yesterday at 1.4392. The weakness of the British economy makes us predict that the BoE will make important rate cuts at the beginning of the year.
The GbpUsd is trading at 1.4505 Dollars per Pound. This session, the pair is ranging from 1.4293 to 1.4540, over yesterday's close at 1.4392. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 1.4500 (key), 1.4346 (April 19th 2002 low) and 1.4000 (key). The resistances are being watched at 1.5000 (key), 1.5534 (November 25th high) and 1.6000 (key).
Checking the daily graphics, the current price is over the 23.60% (1.3701) and under the 38.20% (1.5767) Fibonacci retracement lines. The average volatility per hour is 390 pips and the 60-minute Relative Strenght Index (RSI) is at 43 points, rebounding from the oversold area.
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