During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
GBP/USD failed at resistance
2019-11-11 • Updated
Trade ideas
SELL 1.2645; TP 1.2600; SL 1.2665
GBP/USD got once again rejected down from 1.2760. The 50-day MA is having a bearish bias and creating further resistance at 1.28. On H4, we see that support is provided b the 50-period MA at 1.2650. The decline below this level will confirm a temporary top and open the way down to 1.26.
Resistance lines in the 1.2715/25 area. Only above these levels GBP/USD may once again try to retest this week’s highs.
The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
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