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GBP/USD Showing Weakness with Short-term Head and Shoulder

posted by Avatar FXTimes 104 days ago in USD, GBP, Technical made popular 104 days ago

Immediately after the BoE announced 50bn instead of 75 bn pounds of additional bond purchase (QE3), the GBP/USD got a boost. However, this was indeed short-lived. It was noted that inability to break back above 1.5875 would be seen as a sign of weakness. While the market did crack this level, the 1H chart shows the dynamic as the market...
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