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GBP/USD Forecast: Strong retail sales could result in inverse head and shoulder formation

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GBP/USD dropped to 1.4082 levels on Wednesday as heightened Brexit fears continued to scare investors out of Sterling positions. Meanwhile, Fed’s Bullard became the latest member to hit the wires with hawkish views, which added to the bullish tone around USD. The spot closed the day on a weaker note at 1.4114, marking a breach of rising trend line on the daily closing basis. Eyes UK retail sales UK retail sales are likely to show a sharp slowdown in consumption in February. British Retail

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