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GBP/USD Forecast: still stuck in a range, upside breakout likely

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBP/USD pair rose to an intraday high of 1.5506 on Tuesday before the offers pushed the pair back to 1.5442 in the NY session. Overall, the pair is still remains stuck in the 100-pip range of 1.5410-1.5510. Carney’s testimony turned out to be a non-event, while the markets ignored usual hawkish comments from BOE’s McCafferty. The upbeat US housing starts data also failed to have any major impact on the pair. Focus on commodities and UK public sector net borrowing figure The commodity

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