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GBP/USD Forecast: Finds support at falling channel ahead of UK

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair took out May 2010 low of 1.4227 and took out 1.42 levels to hit a low of 1.4130; its lowest level since February 2009. Sterling rose as high as 1.4339 but ran into offers once again near the 5-DMA. The better-than-expected core CPI helped Sterling but Carney’s dovish take on interest rate triggered a sharp fall to fresh multi-year lows. “Now is not the right time to raise rates”, Carney said and this is something the majority in the markets already knew. Till yesterday, many

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