GBP/USD Extends Losses—Will the BoE Give Bulls a Lifeline?

Looking at the 4-hour chart, the pair settled well below 1.3500, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The decline was such that the pair even slipped below the 1.618 Fib extension level of the upward move from the 1.3474 swing low to the 1.3568 high.

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Source: Action Forex

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Category Forex

Source Action Forex

Published 5 days ago

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News ID #18,263

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