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GBP/USD Analysis Today 16/1: Leaning Towards Selling (Chart)
(MENAFN- Daily Forex)
- Bulls haven't enjoyed the recent rebound gains for long in the GBP/USD pair, which reached the resistance level of 1.2305. We had recommended selling the GBP/USD pair above that peak through our free direct trading signals on our website. Obviously, this was before it quickly returned in its broader downward path with losses to the support level of 1.2186 before settling around the level of 1.2240 at the beginning of trading on Thursday. Ahead of a package of important economic releases from both Britain and the United States of America, the results of which may shape the closing of trading for the currency pair this week.

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