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GBP/USD Forecast: Next bearish break likely on weaker UK wage growth figures

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair failed to to take out 1.4516-1.4519 (23.6% of 1.5930-1.4079 + 38.2% of 1.5230-1.4079) in early European session on Tuesday before fresh offers pushed the spot lower to 1.4351 (23.6% of 1.5230-1.4079) after the data in the UK showed the headline CPI fell more than expected in January and the core inflation growth slowed. Fresh offers came-in in the US session as the pair fell below 1.4351 and then extended losses to 1.4276 before ending the day at 1.4302 levels. Eyes UK labor

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