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BoE weighs on GBP. EURUSD could pop to 1.120

Discussion in 'Fundamental Analysis' started by AllFXBrokers, Jul 14, 2016.

  1. AllFXBrokers

    AllFXBrokers Member Trader

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    The British pound is likely to come under pressure today as the Bank of England is expected to cut interest rates by 25bps, a close call which could go either way. GBPUSD remains supported above 1.30 for now. EURUSD has formed an inverse head and shoulders pattern on the 4-hour session and could be seen extending its gains towards 1.120 if we get to see an upside breakout.

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