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GBP/USD Forecast: Forget bullish break if UK retail sales contract

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair found bids on Thursday again as it neared the falling channel support seen on the 4-hour chart. The pair recovered from the low of 1.4079 and rose as high as 1.4249 (5-DMA yesterday) before closing with moderate gains 1.4220. A major part of the recovery was triggered by a fall in the EUR/GBP cross after the ECB President Draghi hinted at more easing in March. Focus on UK retail sales Month-on-month the UK retail sales are seen contracting 0.3%. Year-on-year, the retail

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