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GBP/USD Forecast: Weak manufacturing production could hurt Sterling

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Thursday was another volatile day for GBP/USD pair as it fell to from a high of 1.4157 to 1.4048 in Europe only to recover to 1.4117 before falling back again to end the day at 1.4056. Sharp drop in GBP/JPY cross ensured the pair had little scope to rally. Furthermore, Brexit fears also ensured the bird remained volatility. The three-month implied volatility gauge, which includes June 23 referendum rose above 16% for the first time in six years. Odds of a weaker-than-expected manufacturing

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