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Despite Data, Pound Feeling Weight of Brexit

Discussion in 'Market News' started by Daily.Forex, Jan 11, 2017 at 12:04 PM.

  1. Daily.Forex

    Daily.Forex Forum Member

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    The Pound Sterling remained close to a 10-week trough versus the US Dollar as market players ponder the possibility of a “hard” Brexit in which immigration controls are of paramount concern and single market access could be secondary.

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  2. BUZZfx

    BUZZfx New Member Trader

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    Looking at GBPUSD from a technical analysis perspective, the pair remains biased towards the downside. However, weekly and daily Stochastic oscillator warn of a temporary bullish correction. The leveled to be eyed as a possible resistance capping the up-move is 1.2300 – a combination of daily moving average and Fibonacci 123.6% retracement level.
     

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