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It seems like there's a developing bullish 'Three Methods' pattern. Also, the 55 Moving Average is acting as resistance. In this case, the pair is likely going to reach the next resistance at 1.1434 in the coming days. The subsequent pullback from this level could be a departure point for another decline towards the previously tested support at 1.1231.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?
