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GBP/USD Forecast: Inverted head and shoulder on hourly, Eyes 1.4380

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair fell to a low of 1.4223 and extended losses to 1.4206 in Asia. The British Pound fell on Monday after the data in the UK showed order book balance of the survey dropped to -15 percent in January from -7 percent in the previous month. Economists had forecast a -10 reading. The balance of total new orders for the three months to January improved to -4 from -8 in the three months ended October. Apart from the weak data, a moderate risk aversion so weighed over Sterling. As of

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