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GBP/USD Forecast: Double bottom on charts, eyes 1.5160

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair advanced to a high of 1.5136 on Wednesday and ended around the same. Demand for Sterling spiked after the UK Office for Budget Responsibility (OBR) revised the 2016 GDP forecast higher. Chart driven strength also came into play after a string of an upbeat US data failed to keep the pair below 1.5087 (61.8% of Apr-Jun rally). The data calendar is empty.The UK financial stability report may not offer much trading cues to the markets. The US markets are closed on account of

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