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Gold stalls two-day winning streak on the Fed day, trade jitters continue

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Daily Recommendations on Major - EUR/USD

Intra-Day News and Views & data to be released today - GBP/USD

Dollar ends lower due to rally in euro and sterling

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Mrs. Christine Lagarde will debut as ECB’s Chief next Thursday

The EUR/USD pair finally woke up and surged to a fresh 4-week high of 1.1115, although it gave up most of its gains after a positive surprise in US employment data. Speculative interest was on its toes for most of the week, tired on the encouraging comments without real progress related to the US-China trade relationship.




Yohay Elam

GBP/USD is trading around 1.3150 after Prime Minister Boris Johnson refused to look at a photo of a boy sleeping on a hospital floor. With the focus shifting to health, the Conservatives may lose some support. How is sterling positioned?

The Technical Confluences Indicator is showing that pound/dollar is capped by 1.3157, which is a dense cluster of lines including the Fibonacci 61.8\% one-day, the Bollinger Band 1h-Middle, the BB one-day Upper, the Simple Moving Average 100-15m, the SMA 5-4h, and more.

The next resistance is close. At 1.3171 we note the meeting point of the BB one-hour Upper, the previous weekly high, and the Fibonacci 23.6% one-day.

Further up, the upside target is 1.3246, which is the convergence of the Pivot Point one-week Resistance 1 and the PP one-month R3.

Support awaits at 1.3116, which is the confluence of the SMA 5-1d, the BB 4h-Lower, the PP 1m-R2, the Fibonacci 23.6% one-week, and the PP 1d-S2.

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