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GBP/USD Forecast: Further losses likely, USD a risk-off currency?

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair fell on Tuesday on the back of a weaker-than-expected preliminary UK Q3 GDP figures and broad based USD rally despite weak US data. The spot dipped to 1.5330 after the UK GDP release, but recovered losses on upbeat service sector output. In the US session, a fresh wave of selling hit the pair taking it to a low of 1.5282, despite weak US data. The pair eventually ended the day at 1.53 levels. USD a risk-off currency? It appears the USD Is once again being treated as a risk-off

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