GBP/USD Forecast: down towards 1.4040

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 7, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    The GBP/USD pair turned lower after reaching a major resistance around 1.4250 last Friday, and fell down to 1.4136 so far today, with the dollar generally stronger against its European rivals. Trading near its daily low, the lack of macroeconomic releases will likely limit the intraday trading range this Monday. From a technical point of view, the ongoing downward move seems short-term corrective, given that the pair has been up advancing steadily for the last five trading days, now

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