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GBP/USD off lows, re-tests 1.4090

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The sterling remains on the defensive today, now taking GBP/USD to the area of 1.4085/90.

    GBP/USD finds support near 1.4050

    The pair has briefly visited the key support area around 1.4050 earlier today, managing to stage a rebound and regain the vicinity of the critical barrier at 1.4100 the figure.

    In the meantime, spot is losing ground for the third consecutive session so far as ‘Brexit’ concerns continue to weigh on GBP sentiment.

    GBP/USD levels to consider

    As of writing the pair is losing 0.28% at 1.4083 and a breakdown of 1.4051 (low Mar.16) would aim for 1.4004 (low Apr.6) and finally 1.3833 (2016 low Feb.29). On the other hand, the next hurdle lines up at 1.4264 (20-day sma) followed by 1.4460 (high Mar.30) and then 1.4517 (high Mar.18).
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