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Cable followed the trading map! Whats next?

Monday, September 9, 2019 12:57 PM GMT

The situation with UK politics has not changed, as the House of Commons is not expected to approve the snap elections asked by Boris Johnson, unless the extension of the 31st of October Brexit deadline is secured.
Today’s GBP macro releases were unexpectedly strong with GDP, manufacturing-industrial and construction output rising.

Following our previous week post, GBPUSD followed precisely our trading plan. The price moved sideways to downside and exploded to the upside after reaching our support zone. Its currently creating a higher high but not yet confirmed. If price closes above previous high with a couple of hourly candlesticks then bulls may push the pair even higher.

H1

Heading to the daily timeframe, we have noted a major resistance zone where we speculating that bears may step in and hold the bullish momentum.

D1

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