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Pound rallies on better than expected inflation data

al_dcdemo Posted 12 Sep.  in #Trader's blog #GBP/USD #Support #Resistance #Bull Run #D1 Chart #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

al_dcdemo Updated 9 Mar.  in #Trader's blog #GBP/USD #Support #Resistance #Bull Run #D1 Chart #Risky Assets
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

al_dcdemo Posted 9 Oct.  in #Trader's blog #Support #Resistance #AUD/USD #H1 Chart #Bull Run #Profit Taking
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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4 Comments
fxsurprise8 avatar
fxsurprise8 9 Oct.

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

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al_dcdemo 10 Oct.

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

fxsurprise8 avatar
fxsurprise8 10 Oct.

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

al_dcdemo avatar
al_dcdemo 11 Oct.

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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