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Alert - 10:00 (CET) - GbpUsd
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The GbpUsd is trading at 1.3709 Dollars per Pound. This session, the pair is ranging from 1.3548 to 1.3810, under yesterday's close at 1.3804. 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).
Given the weakness in the equity markets in this session, the traders are going back to the Dollar safe haven, which is advancing 0.72% against the Sterling. As the UK's economy confirmed that it entered into a recession last week, the traders expect the BoE to cut rates to near 0% in the coming months.
Checking the daily graphics, the current price is under the 0.00% (1.0165) and under the 23.60% (1.3568) Fibonacci retracement lines. The average volatility per hour is 200 pips and the 60-minute Relative Strenght Index (RSI) is at 51 points, rebounding from the oversold area.
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