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GBP/USD Trades Below the 2012 Trendline After BoE Inflation Report

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GBP/USD Trades Below the 2012 Trendline After BoE Inflation Report

Money Mind - Forex

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16-05-2012, 09:50 PM

bluetooth

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GBP/USD Trades Below the 2012 Trendline After BoE Inflation Report

The GBP/USD was already breaking a key support area ahead of the BoE inflation report and Mervyn King's press conference. The 1.5990-1.60 area was a rising trendline that goes back to January 2012. A break below now opens up 1.5780-1.58, and below that opens the 1.5650 area.

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