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28 May 2013
GBP/USD giving way through support 1.5070
FXstreet.com (London) - GBP/USD had been holding up against a 5yr high in Consumer confidence readings, where the pair initially lost a marginal bit of ground.
30 minutes after the release, the pair has stretched lower to 1.5048, recording a new low on the session and a bearish flag on the chart. Next support is seen 1.5013, 100 pips away from the start of the move, and last defence before exposing the March lows.
30 minutes after the release, the pair has stretched lower to 1.5048, recording a new low on the session and a bearish flag on the chart. Next support is seen 1.5013, 100 pips away from the start of the move, and last defence before exposing the March lows.