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    GBP/USD: the next target is on 05.01.2015

    The pair has been trading within a downward channel. Last Friday UK Manufacturing PMI as well as Mortgage Approvals stats have been published. The numbers went down and the pair dropped down to the level of 2013 minimums, breaking down the key support of 1.5500 along the way

    Today Pound continues to lose its positions due to the possibility of US interest rate increase. Since Thursday GBP/USD has lost more than 300 points and tested all the lows, including 1.5180. Today's release of British Construction PMI can only worsen the situation, because the forecasts are negative.


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