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GBP Still Moving Stronger Than USD, Ahead Of Current Account Report

GBP Still Moving Stronger Than USD, Ahead Of Current Account Report

GBP/USD is still moving bullish since 16th September, dropping from 1.3247 30th September low, to 1.2944. Right now, GBP is trading at 1.2954, closing to first support gate S1 1.2945 and expected to keep dropping as charts andf numbers show. With daily pivot 1.2993, next to first resistance, it gives a picture of how significant the British pound has been moving facing the U.S. dollar.

Trend: bearish is the most likable trend, but an opposite shift cannot be excluded, due to crucial news at 9:30 AM on GDP current account.

Key levels to watch: Daily Pivot: 1.2993

first support S1 1.2954, S2 1.2918, S3 1.2879 (4 hour chart)

First resistance R1 1.2987 , R2 1.3032, R3 1.3056 (4 hour chart)

Remark: look forward for current account release on GDP at 9:30 AM GMT.

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