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GBP/USD Technical Analysis


Published on: 06/11/2018



At the moment the dollar index is falling and has moved away from the highs reached last week, going down to the level of 96.10. Therefore, our pair showed a strong upward movement last week.

Today we expect the US to release data on the labor market. Moreover, the number of currently open vacancies will be published - this figure is expected to be 7.1M.

From the UK, we do not expect strong news today.

On our chart we observe that the price was able to overcome the mark of 1.3010 and rushed higher. If we look at our chart from the point of view of the Elliott wave theory, we can observe the formation of the third upward wave and assume that the price will go to the levels of 1.3150 and 1.3250.

Our technical indicators point to a purchase, so we advise you to look for points to enter long positions and to consider your goals the marks near the above levels.


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