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Forex pairs in this Article » GBP/USD (Chicago) - GBP/USD accumulates 0.01% daily losses so far after failing to House of Commons rejected UK military action to back up the US strike against the Syrian government.

The UK got it?

Price action reveals trendless movement after the closing of the American trading journey and prior to Friday’s opening in Asia. The US was not backed to attack Syria on the premise of chemical weaponry used against civilians last week and in violation of the Chemical Weapons Convention. The UN inspectors asked for four days to inspect whether or not the Syrian government should be made accountable for its actions. In the UK, David Cameron lost a symbolic vote to support the US military strike after the House of Commons rejected the possibility of an attack with 275 votes against vs. 235 votes in favor of retaliation. After the voting process, the UK Prime Minister said that “The British Parliament doesn’t wish to see British military action” adding “I get that and the government will act accordingly.”

US job market improving?

In the US, Fed’s Lacker stated “substantial improvement” in job market data as initial jobless claims fell to 331K vs. previous 337K but failed to meet projections at 329K. Continuing jobless claims were 2.989M vs. expected 2.980M and previous 3.003M while the annualized GDP price index for the second quarter of the year was 2.5% vs. past 1.1%. Wall Street closed with gains as the Dow printed 0.11% advancements, the Nasdaq was up 0.75% and the S&P 500 gained 0.20%. The FTSE 100 in the UK closed with 0.82%.

GBP/USD Technical Levels

Technically speaking, the pair trades at critical psychological 1.55 juncture between supports aligned at 1.5496 (August 26th lows), 1.5479 (August 27th lows) ahead of 1.5447 (August 29th lows) and resistances aligned at 1.5517 (August 16th lows), 1.5544 (August 27th highs) followed by 1.5562 (August 22nd lows). According to the trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
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