{"id":112387,"date":"2017-09-07T08:13:40","date_gmt":"2017-09-07T12:13:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=112387"},"modified":"2017-09-07T08:13:40","modified_gmt":"2017-09-07T12:13:40","slug":"daily-market-report-gbpusd-towards-new-peaks-september-07-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/daily-market-report-gbpusd-towards-new-peaks-september-07-2017\/","title":{"rendered":"Daily Market Report \u2013 GBP\/USD Towards New Peaks September 07, 2017"},"content":{"rendered":"
September 7, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

GBP\/USD Strongly Bullish<\/strong><\/p>\n

GBP\/USD edges higher on the Daily chart and is expected to reach new upside targets very soon. Price increases as the USDX drop aggressively again and approach the 91.64 previous low. The index will drop towards fresh new lows if will close below the mentioned static support.<\/p>\n

USDX is trading in the red ahead of the ECB and ahead of the high impact US data. The greenback needs a strong support from the United States economy to be able to climb higher and to recover after the immense drop.<\/p>\n

The ECB Press Conference will have an impact on the USD as well, a dovish speech will boost the USD and will punish the Euro. We’ll have to be patient to see what impact will have the US figures, the Unemployment Claims could increase from 236K to 245K in the previous week, the Revised Nonfarm Productivity may increase by 1.3% in the second quarter, beating the 0.9% estimate, while the Revised unit Labor Costs indicator is expected to increase by 0.3%.<\/p>\n

\"07gbpusd\"<\/a><\/p>\n

Price goes higher as expected, the perspective is bullish and should hit new highs in the upcoming days. The next upside target will be at the first warning line (wl1) of the minor ascending pitchfork, where he may find temporary resistance again. We have a breakout underway, has managed to pass beyond the 1.3046 level, signaling that the buyers are very strong.<\/p>

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USD\/CHF On A Declining Path<\/strong><\/p>\n

\"07usdchf\"<\/a><\/p>\n

USD\/CHF extends the bearish movement as the dollar index drops further. Price is going down after the retest of the warning line (up sloping red line)\u00a0 and the 0.9634 level. Now is approaching the 0.9498 static support, a valid breakdown will confirm a drop towards the lower median line (lml) of the descending pitchfork and towards the 0.9440 horizontal downside obstacle. Only a rebound will send it towards the median line (ml) again.<\/p>\n

EUR\/CHF Another Breakout Attempt<\/strong><\/p>\n

\"07eurchf\"<\/a><\/p>\n

EUR\/CHF resumed the yesterday’s bullish candle and climbed above the WL2 and the WL4, but failed to stay there. Price had lost altitude in the last hours, so a false breakout will signal an overbought and a potential drop at least till will reach the upper median line (uml).<\/p>\n

I’ve said in another article that the rate could resume the upside movement if will jump and will stabilize above the 1.1415 level.<\/p>\n

By Olimpiu Tuns<\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading, in genera,l is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can’t afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this web site.<\/span><\/em><\/p>\n

The post Daily Market Report – GBP\/USD Towards New Peaks September 07, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com GBP\/USD Strongly Bullish GBP\/USD edges higher on the Daily chart and is expected to reach new upside targets very soon. Price increases as the USDX drop aggressively again and approach the 91.64 previous low. The index will drop towards fresh new lows if will close below the mentioned static support. USDX is trading […]<\/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-112387","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112387","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=112387"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112387\/revisions"}],"predecessor-version":[{"id":112388,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112387\/revisions\/112388"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=112387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=112387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=112387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}