British Pound Gains are Slowing but Not Likely Over
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Trade Implications – GBPUSD: Slowing upward momentum warns that British Pound gains might come more gradually, but our trading forecast remains in favor of gains as long as ‘the herd’ continues selling. Feasible topside targets include 2009 reaction highs near $1.6877 and $1.6985.
See next currency section:USDJPY - US Dollar Remains at Risk versus the Japanese Yen
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.