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GBP/USD update (18th April 2017, 10:00)

GBPUSD looks unstoppable for now.

GBPUSD looks unstoppable for now.

There seems little stopping sterling at present, with the price testing the area around $1.26, which it tried to break yesterday but failed. A close above $1.2611 would target $1.26 and then $1.2775.

For the moment dollar weakness is driving this – a relatively empty calendar for sterling means that we could see a falling dollar drive GBP/USD even higher. Short-term, a close below $1.2560 would be needed to start creating a new lower low, but there looks to be a strong zone of support around $1.25.


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GBP/USD update (18th April 2017, 10:00)

GBPUSD looks unstoppable for now.

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