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GBP/USD Forecast: Falling trend line intact ahead of UK data and budget

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Renewed Brexit fears led to a slide in British Pound on Wednesday. The risk-off tone in the equity markets further added to the bearish pressure. Thus Cable breached the falling trend line support (then, now a resistance) and ended the day at 1.4149 levels. The main even for the day is the Fed rate decision and a possible outcome and resulting effect on GBP/USD and Gold is discussed here ( Macro Scan ). BOE rate cut bets are rising Latest Bloomberg survey showed economists put the probability

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