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GBP/USD Forecast: Falling trend line intact despite V shaped recovery

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Cable had one of the wildest of the trading days as prices fell more than 150 pips to a low of 1.4005 only to recovery to ground zero in the NY session. Fed minutes released in the NY session were simply ignored by the markets. Initial reaction was of surprise since policymakers talked about April rate hike, but the details revealed much of it was against moving in April. Overall, minutes said everything that markets already know and hence were ignored. A thin UK data docket means there is

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