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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.38%, while traders in France 40 are at opposite extremes with 70.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KYpAOemcJX
GBP/USD One of the Few Pairs with Breakout, Trend Potential on GDP

GBP/USD One of the Few Pairs with Breakout, Trend Potential on GDP

John Kicklighter, Chief Strategist

There are a number of attractive technical setups in the FX market right now - like the EUR/USD channel break - but their trade potential is sabotaged by a corrosive fundamental backdrop. Yet, there is one currency that can override the fog: the British Pound. To generate enough momentum to develop a meaningful trend, we need a fundamental catalyst with enough influence to temporarily offset the market's obsession with risk trends and the Fed's Taper timetable. For the pound and GBPUSD, that spark could be the UK's 2Q GDP release. We discuss the trade opportunities with the pound pairs as well as the viability of setups from pairs like EURUSD, AUDUSD and USDJPY in today's video.

New to EUR/USD trading? Watch this EUR/USD introduction video

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