GBP/USD Forecast: Flirting with key trend line resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Broad based USD selling in the NY session on Friday helped the GBP/USD chew through offers placed around 50-DMA and rise to a high of 1.4436. A minor bout of profit taking saw the pair end the day/week at 1.4381 levels. This was the second weekly gain as the so-called ‘Brexit’ issue has taken a backseat. However, the referendum is in June and till then another round of Brexit driven sell-off could happen. The empty data calendar in UK and US leaves the pair at the mercy of the overall market

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