EXNESS - Analytics

    EXNESS

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    GBPUSD: consolidation before the publication of the retail sales in the UK

    Buy on a level breakthrough of 1.5294 with 1.5360 target. Stop loss = 1.5244.

    Reason for the trading strategy

    If a decline in retail sales in the UK is recorded in October, the GBP/USD pair may roll back to the level of 1.52. It may be supported by the weakness of the US dollar after the publication of the US Federal Reserve minutes for October. From a technical point of view, opening new long positions on the GBP/USD pair can be considered at the breakthrough of the 1.5294 level.

    GBPUSD, H4

    GBPUSD


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