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GBP/USD Forecast: On recovery mode, but Brexit fears rise

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 23, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    The GBP/USD pair hit fresh 7-year low of 1.4057 on Monday on Brexit fears, before profit taking helped Sterling recover to 1.4168 levels in the NY session. However, the bears were back in the Asian session today and pushed the pair back to 1.4090. As of now, the pair is trading above 1.4100 with traders focused on Brexit related news flow. Brexit is a bigger threat than last year’s election Ratings agencies have repeatedly said Brexit is a bigger threat to UK than last year’s general elections.

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