GBP/USD bulls run into a wall of critical resistance – by fx_ross GBPUSD Currencies Fed DollarIndex
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data. The weaker data has caused traders to bet the Federal Reserve may raise interest rates less than previously expected.The weekly outlook is bullish as per the strong recovery. However, the price is running into a wall of a confluence of resistances that include old lows, highs, trendline and high volumes. This would open the prospects of a meanwhile correction for the immediate future which could mean that we have seen the high of the week on Tuesday's trade.
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