GBP/USD hesitated under the downtrend resistance line but is now on the move. Pound/dollar is now trading at the highest level since September 2016, breaking above resistance at the previous 2017 high of 1.3050. The high so far is 1.3083. The next cap is at 1.3130. The next lines are 1.33 and 1.35, but these seem far. Support is at 1.2980. We are firmly in levels last seen before the big “flash crash” in October, or if you wish, the initial post-Brexit range of 1.28 to 1.35, moving towards the middle of that range. Here is how it looks on the daily chart. The driver for the weakness of the dollar stems from poor retail sales and inflation data. All the figures released at 12:30 GMT missed expectations. The news published at 14:00 also came short of predictions: consumer sentiment dropped more than expected. Other currencies are also moving higher against the beaten US dollar. The next Fed rate hike is at risk. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Weekly Outlook – July 17-21 2017 Yohay Elam 6 years GBP/USD hesitated under the downtrend resistance line but is now on the move. Pound/dollar is now trading at the highest level since September 2016, breaking above resistance at the previous 2017 high of 1.3050. The high so far is 1.3083. The next cap is at 1.3130. The next lines are 1.33 and 1.35, but these seem far. Support is at 1.2980. We are firmly in levels last seen before the big "flash crash" in October, or if you wish, the initial post-Brexit range of 1.28 to 1.35, moving towards the middle of that range. Here is how it looks on… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
