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GBP/USD forecast: Weak UK wages could kill Sterling

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The sell-off in Sterling was one of the main story in the FX markets on Tuesday. A surprising negative inflation number in the UK, coupled with a drop in the core inflation saw the GBP/USD pair drop to 1.5248, where it consolidated for an hour or so before extending the drop to 1.52 levels on the back of dovish comments from BOE’s McCafferty. But profit taking and speculation of uptick in the UK monthly wages pushed the pair back to 1.5280 levels in Asia today. Weak wages could spell disaster

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