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GBP/USD - Correction over?
The pound has been recovering against the dollar this month after breaking key support towards the end of September, but it may be running into trouble. The pair has run into some resistance around an area that has been a major support zone for much of the year so far. What’s more, it falls around the 50% retracement level which would be a typical rotation level during a correction. chart This level has been strongly rejected on a few occasions now, the strongest of which coming today, with price now testing recent lows after pulling significantly back. The recent rally had already been running on low momentum ... (full story)