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Market View

Brexit's latest news boosting GBPUSD!

Thursday, November 30, 2017 12:12 PM GMT

Reports indicate that EU and UK have accepted a draft arrangement on the financial settlement. Indeed, this is very important and even though recently grown worries over the Irish border matter, this is the most meaningful progress leading to a probable agreement.

Regarding the technical trading view of the Cable, it broke out 61.8% and heading to the next Fibonacci retracement level, 78.6%. RSI (14) is near to overbought level.


Heading to the hourly TF, Cable is going upwards amazingly organized. It consolidates, breaks the range and then creates new highs. It is currently trying to break the last consolidation once again. As said, buyers may target the 78.6% Fibo level. In addition, we have noted a support where bulls may have another buying opportunity. However, if this zone fails to hold, then the bears will have the intraday control.


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