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Alert - 09:55 (CET) - GbpUsd waiting for the UK's GDP
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The GbpUsd is trading at 1.3666 Dollars per Pound. This session, the pair is ranging from 1.3644 to 1.3902, under yesterday's close at 1.3877. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the support at 1.3770 (March 31st, 1985 low) was broken, the traders are watching the next at 1.3500 (key) and 1.3040 (September 30th, 1985 low). The resistances are watched at 1.4000 (key), 1.4443 (January 20th low) and 1.4909 (January 19th low).
The Sterling is still profit taking, in countdown for the UK's Q4 GDP, that will confirm that the country is in recession. It is expected that the activity in the UK fell by 1.2%, a larger contraction from the Q3's 0.6%. This way, the market consensus is that the BoE will be forced to cut rates to near 0.%.
Checking the daily graphics, the current price is under the 0.00% (1.3701) Fibonacci retracement lines. The average volatility per hour is 310 pips and the 60-minute Relative Strenght Index (RSI) is at 30 points, oversold.
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