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GBP/USD Forecast: 200-DMA is a weak resistance, Eyes BOE minutes

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair rose to its 200-DMA at 1.5319 on Wednesday after the UK industrial production for August beat the expectations by a wide margin. Immediately after the release of the data, the pair spiked to 1.5310 levels. However, we did not see a strong second wave of buying in the GBP, which is usually seen post an upbeat UK data. The pair did clock an intraday high of 1.5339 in the NY session before falling back to 1.5316 at NY close. BOE minutes to carry a more cautious tone The Bank of

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