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Pound rallies on better than expected inflation data

The pound has been on a bull run during the past couple of weeks. It rallied today into what proved to be a better than expected inflation data release, and extended gains after the release. Nothing suspicious here.
GBP/USD broke above August high and is currently trading at the highest level since last September. 1.3350 - 1.3375 is the next target and then 1.3450 - 1.35. 1.3225 is the initial support. Tomorrow U.K. releases labour market report and then BOE meets on Thursday.
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Cable stalls after a decent bull run

Cable has had a good run from the low near 1.3835 to the high around 1.4280. It posted six consecutive winning days and gained 450 pips. Yesterday, however, the pair ended with about 50 pip loss, after a general pullback in riskier assets.
1.4250 - 1.43 shall now offer an immediate resistance before 50 DMA (currently ~1.4340). 1.4150 is the initial support with more demand expected closer to the big figure level at 1.40.
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Aussie keeps rising

Aussie has had a great bull run. It has been closing in the green for seven consecutive days and is currently up 20 pips today. September high (~0.7280) is the immediate resistance and, if it breaks, stoploss driven orderflow may send the pair above 0.73. However, it is Friday and there's risk that the pair pulls back from there on pre-weekend profit taking.
Support:
0.7200 - 0.7235 (Wednesday High, Daily Pivot Point, Monthly Resistance 1, H1 50 SMA, 00's)
Resistance:
0.7280 - 0.7300 (September …
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fxsurprise8 avatar

it just added one more day, now 8 in a row.

al_dcdemo avatar

It sure did. We'll see if it will crush Cable's recent record. :)

fxsurprise8 avatar

you mean 9 down days? But a lot of Cable down days were <5 pips, basically flats

al_dcdemo avatar

I meant the nine-streaks, yeah. Cable put in two of those in the past two months. The last one was a bit slow at the end, just reverse of what Aussie did.

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