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Fundamental Analysis
GBP/USD
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[QUOTE="ForexSignalses, post: 162356, member: 59138"] [B]GBP/USD hurriedly reverses dismal UK PMI-led knee-jerk slide, expose stuffy multi-day tops[/B] An immediate slip in the UK facilities PMI exerts some selling pressure. Downside remains cushioned along amid fading prospects of a no-contract Brexit. The GBP/USD pair hastily reversed a knee-jerk slide to levels just out cold mid-1.3100s and is currently placed at the pinnacle subside of its daily trading range. Having jumped to multi-hours of day tops, closer to the 1.3200 handles, the pair started losing progression and momentarily slipped knocked out mid-1.3100s insensitivity to the disappointing forgive of the UK services PMI, which immediately fell into contraction territory in March. The downside, however, remained cushioned in wake of the latest Brexit developments, wherein Conservative's Sir Oliver Letwin and Labour MP Yvette Cooper tabled their movement to vote concerning a Bill to prevent a no-malleability Brexit and extend Article 50. This coupled following the fact that the UK PM Theresa May announced to ask the EU for a magnification of the Brexit deadline and offered for outraged-party talks surrounded by the enemy Labour Party leader Jeremy Corbyn outstretched some add-on maintain and helped limit any meaningful downside. With the incoming Brexit headlines turning out to be an exclusive driver of the sentiment surrounding the British Pound, the pair seemed rather unaffected, albeit remained supported by some renewed US Dollar selling despite a roomy leg of an upsurge in the US Treasury sticking to yields. [/QUOTE]
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