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    GBP/USD: range-bound ahead of key data

    Cable is range-bound ahead of major market moving news on Thursday, when the BOE releases its quarterly inflation report and the MPC decides on monetary policy.

    The short-term trend is up and favours a break above the multi-touch resistance line and 1.5689 highs, such a move would be expected to reach resistance at 1.5780.

    Alternatively a break below the trend-line currently underpinning price and the 1.5527 lows would probably confirm a downside break to a target at 1.5450.

    There is a strong possibility confirmation of the next move could come when the BOE publishes its news on Thursday.
    GBPUSD04b

    Cable is range-bound ahead of major market moving news on Thursday, when the BOE releases its quarterly inflation report and the MPC decides on monetary policy.

    The short-term trend is up and favours a break above the multi-touch resistance line and 1.5689 highs, such a move would be expected to reach resistance at 1.5780.

    Alternatively a break below the trend-line currently underpinning price and the 1.5527 lows would probably confirm a downside break to a target at 1.5450.

    There is a strong possibility confirmation of the next move could come when the BOE publishes its news on Thursday.
    GBPUSD04b


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