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GBP/USD Risks Falling Back Under 1.50

Discussion in 'Technical Analysis' started by Kaitlin, Dec 10, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Weak UK fundamentals triggered another GBP/USD sell-off yesterday, with the pair dropping towards the immediate support at 1.4960. Nonetheless, trade closed above the 1.50 major level, but technical indicators retain their bearish signals, suggesting another decline is possible. The weekly S1 and the Bollinger band around 1.4950 are to limit[​IMG]

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