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GBP/USD Forecast July 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 05 July 2016 06:07 UTC
The GBP/USD pair did very little on Monday, as the market continues to simply grind sideways. The British pound has been sold off drastically lately, and I do see the 1.35 level above as massively resistant, and the 1.32 level below as massively supportive. The meantime, expect a lot of short-term back and forth type of trading as we have no real direction at the moment. Rallies at this point in time should continue to offer selling opportunities as the British pound will probably soften over the longer term due to the recent EU referendum vote.

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