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GBP/USD Pulls Back Off Monthly Highs After the UK Factory Output Data
The GBP/USD currency pair on Friday pulled back off the current monthly highs of about 1.3890 to trade at about 1.3855 after the latest UK data. The currency pair continues to trade within a gently ascending channel formation in the 60-min chart. The pair also crossed above the 100-hour moving average earlier in the week, pushing it to overbought conditions of the 14-hour RSI. However, Friday’s pullback pushed it back to the normal trading zone of the strength indicators. GBP/USD Fundamentals Overview: From a fundamental perspective, the GBP/USD currency pair is trading at the back of a relatively busy period in ... (full story)