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FxWirePro: GBP/USD recovers sharply on positive Brexit negotiations, good to sell on rallies

  • Cable recovers sharply on Friday after hitting 9- day low at 1.30878 on account of Brexit progress. But upside will capped due to Donald Trump tax cuts plan. The pair jumped till 1.32268 and is currently trading around 1.31644.
     
  • The British pound jumped sharply after Theresa May and the EU commission’s agreement goes in right direction. Britain’s Foreign sectary has urged EUROPEAN leaders to finish the deals as early as possible.  
     
  •  The near term major resistance is around 1.3230 and any break above will take the pair to next level till 1.330/1.33374 (Oct 13th 2017 high). 
     
  • On the lower side, 1.3075 will be acting as major support and any break below will drag the pair down till 1.30270 /1.3000 level. Bearish continuation can be seen only below 1.3030.

It is good to sell on rallies around 1.32000 with SL around 1.3235 for the TP of 1.3100/1.3075.

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2017-11-21 08:06:34
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November 20 20:00 UTC Released

BRCAGED Net Payroll Jobs*

Actual

77 k

Forecast

Previous

77 k

November 20 13:00 UTC Released

RURetail Sales YY

Actual

3.0 %

Forecast

3.9 %

Previous

3.1 %

November 21 13:55 UTC 331331m

USRedbook MM

Actual

Forecast

Previous

-1.2 %

November 21 13:55 UTC 331331m

USRedbook YY

Actual

Forecast

Previous

2.3 %

November 22 12:00 UTC 16561656m

USMBA Mortgage Applications

Actual

Forecast

Previous

3.1 %

November 22 12:00 UTC 16561656m

USMortgage Market Index

Actual

Forecast

Previous

401.7 Bln EUR

November 22 13:30 UTC 17461746m

USJobless Claims 4-Wk Avg

Actual

Forecast

Previous

237.75 k

November 22 13:30 UTC 17461746m

USInitial Jobless Claims

Actual

Forecast

240 k

Previous

249 k

November 22 13:30 UTC 17461746m

USContinued Jobless Claims

Actual

Forecast

1.882 Mln

Previous

1.860 Mln

November 22 14:30 UTC 18061806m

BRForeign Exchange Flows*

Actual

Forecast

Previous

-3.412 Bln USD

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