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The GBPUSD forecast update 07-11-2024
The GBPUSD price shows bullish bias to test the EMA50 that forms good resistance against the price, waiting to resume the negative trades to break 1.2866$ and confirm extending the bearish correction towards 1.2735$.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.3000$ and holding above it.
The expected trading range for today is between 1.2820$ support and 1.2980$ resistance
Trend forecast: Bearish
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The EURUSD price forecast update - 07-11-2024
The EURUSD price trades positively to test the key resistance 1.0775$, affected by stochastic positivity, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the bearish trend active for today, noting that breaking 1.0725$ will ease the mission of achieving our negative targets that start at 1.0650$ and extend to 1.0570$.
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The CADCHF price continued to form correctional bullish waves by settling above the additional support line 0.6210 recently, to notice achieving some waited gains by reaching 0.6305.
MoreThe EURJPY lacks the positive momentum – Forecast today – 7-11-2024
No news for the EURJPY pair despite its continuous consolidation within the bullish channel, affected by the contradiction of stochastic negativity to repeat the fluctuation near 165.60 without recording any new positive target.
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