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GBP/USD Forecast: Bearish potential intact

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Cable snapped the three-week winning streak by ending the last week at 1.4134 levels. Hawkish talk from Fed officials combined with heightened Brexit fears made sure the currency fell from Monday through Wednesday to a low of 1.4057, before a bout of profit taking on Thursday helped it move back above 1.41 where it stayed comatose on Friday amid holiday thinned trade. Major UK markets remain closed today on account of Easter Monday, hence volumes are likely to remain low. Technicals – Strong

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