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GBP/USD Forecast: Bears regaining control ahead of UK CPI release

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Political developments in UK over the weekend heightened fears of Brexit and kept Cable under pressure throughout yesterday’s European session. The offered tone around GBP was accompanied by unwinding of dollar shorts in the NY session after Fed policymakers, via their mildly hawkish comments, indicated a possibility of sooner than expected rate hike. As early as last week, Fed killed rate hike bets by stating it now sees only two rate hikes happening this year. However, within one-week Fed

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