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GBP/USD Forecast: Political development may weigh over Pound

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Cable made multiple intraday attempts during Friday’s NY session to cut through offers around 1.45 levels, but failed and closed moderately lower around 1.4473 levels. Dollar sell-off post dovish FOMC event last week saw GBP/USD recover from 1.41 levels to 1.45 levels. Moreover, dovish FOMC overshadowed renewed Brexit fears. Sterling may feel the heat of Iain Duncan Smith’s resignation Iain Duncan Smith (Secretary of State for Work and Pensions) resigned over the weekend after Chancellor

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