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GBP/USD Forecast: Inverse head and shoulder on hourly chart

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/USD was buoyed on Tuesday by a faster-than-expected UK inflation report, but trimmed gains after official data in the US showed imported inflation turned positive in March and Fed officials – Harker and Kaplan – talked about faster rate hikes. Price action Cable tested area around 1.4225 multiple times in early Europe before jumping to a high of 1.4348 after the UK data release. Demand for the greenback spiked in the NY session pushing the spot back to 1.4196 levels before making a

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