{"id":108824,"date":"2017-07-11T07:44:18","date_gmt":"2017-07-11T11:44:18","guid":{"rendered":"http:\/\/countingpips.com\/?p=108824"},"modified":"2017-07-11T07:44:18","modified_gmt":"2017-07-11T11:44:18","slug":"daily-market-report-gbpusd-losing-altitude-july-11-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/daily-market-report-gbpusd-losing-altitude-july-11-2017\/","title":{"rendered":"Daily Market Report \u2013 GBP\/USD losing altitude July 11, 2017"},"content":{"rendered":"<div id=\"inves-3200537918\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 11, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By Olimpiu Tuns, MultiBank Exchange Group<\/p>\n<p>Source:\u00a0<a href=\"http:\/\/en.mexgroup.com\/blog\/daily-market-report-gbpusd-losing-altitude-july-11-2017\/\" target=\"_blank\" rel=\"noopener\">MultiBank Exchange Group<\/a><\/p>\n<p><strong>GBP\/USD \u2013 slips lower<\/strong><\/p>\n<p>The currency pair is trading in the red right now and most likely will resume the minor retreat after the failure to climb above the 1.3047 previous high. Looks exhausted on the short term and could come down to test and retest some important support level. The greenback will drive the rate down if the USDX will have enough energy to stay above the 96.00 psychological level and to resume the minor rebound.<\/p>\n<p>Price is driven by the technical factors right now, we have a poor economic calendar today, however, the United States figures could bring some action in the afternoon.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/en.mexgroup.com\/blog\/wp-content\/uploads\/GBPUSD.png\" alt=\"GBP\/USD\" \/><\/p>\n<p>You can see that is trading within an ascending channel on the daily chart, but failed to reach the upside line of this pattern, signalling an overbought. Has also failed to approach and reach the upper median line (UML) of the major descending pitchfork (this represents a major dynamic resistance). Is expected to reach and retest the 1.2798 static support and also the first warning line (wl1) of the minor ascending pitchfork, a valid breakdown below these levels will confirm a larger drop.<\/p><div id=\"inves-1240494875\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>The upside movement will resume only if the rate will take out the major resistance from the UML, this scenario will take shape only if the USDX will drop below the 95.45 previous low.<\/p>\n<p><em>By Olimpiu Tuns, MultiBank Exchange Group<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Olimpiu Tuns, MultiBank Exchange Group Source:\u00a0MultiBank Exchange Group GBP\/USD \u2013 slips lower The currency pair is trading in the red right now and most likely will resume the minor retreat after the failure to climb above the 1.3047 previous high. Looks exhausted on the short term and could come down to test and retest [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-108824","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=108824"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108824\/revisions"}],"predecessor-version":[{"id":108842,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108824\/revisions\/108842"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}