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GBP/USD Forecast: Falling channel seen ahead of UK deficit

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The risk-off in the equity markets and the resulting drop in the UK Gilt yields pushed the GBP/USD pair to a low of 1.4351 (23.6% of 1.5230-1.4079), before a sudden rise in the USD selling interest saw the pair trim losses to end the day around 1.4429 levels. As of now, the spot is trading around 1.4410 levels. Eyes UK trade deficit UK trade deficit figure for December is due for release later today. Sterling’s sharp fall began in December, hence could result in an uptick in exports. However,

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