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Daily analytical report (11/09/18)

Tomasz Wisniewski
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  • GBP is on the run thanks to the better GDP data and the positive rhetoric from Mr. Barnier. Cable denied a nice bearish setup, and instead of using the H&S to go lower, it went vastly higher, breaking the long-term downwards trend line.
  • GBPCAD had a very strong bearish setup with two shooting stars on the daily chart bouncing from the downwards trend line and the horizontal resistance - you just can't make that up! Unfortunately for the sellers, this setup did not work out, and the price went significantly higher, breaking those major resistances and triggering a buy signal.
  • GBPJPY is having the worst situation among these three instruments. Here, the price is still below the downwards trend line and we can still create a correction equality pattern. We are still in bearish territory!


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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