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GBP/USD Forecast: Correction overdue, sell on rallies

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair was offered after the domestic data showed the UK public debt worsened in October. The pair took out support at 1.4865 and fell to 1.4807 levels in the NY session. The upward revision of the US Q3 core personal consumption expenditure figure added to the bearish pressure on the pair. Eyes UK data The UK third quarter GDP release due for release today growth rate unchanged at 2.3% y/y and 0.5% q/q. Meanwhile, the current account deficit is seen widening to GBP 21.50 billion.

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