EXNESS - Analytics

    EXNESS

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    GBPUSD: consolidation in the range of 1.5245-1.5335

    Buy on rebound from 1.5245 level with 1.5335 target. Stop loss = 1.5195.

    Reason for the trading strategy

    In October, the UK Retail sales fell by 0.6% (m/m), while the growth rate for September was revised downwards from 1.9% (m/m) to 1.7% (m/m). The pound ignored the frankly weak statistics, focusing on the local weakness of the US dollar. From a technical point of view, buying the GBP/USD pair could be considered with its upward adjustment from the level of 1.5245.

    GBPUSD, H1

    GBPUSD


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