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British pound drops sharply following bearish comments from BoE's Carney

British pound drops sharply following bearish comments from BoE's Carney

3 July 2019, OctaFX – The British pound has dropped sharply lower against the US dollar, following bearish comments from Bank of England Governor Mark Carney.

GBPUSD technical analysis

The 1.2520 support level is likely to come into focus now that the 1.2610 level has been convincingly breached. UK PMI Services data is likely to be the main mover for the GBPUSD pair this morning, with a negative number expected to weigh heavily on the GBPUSD pair.

  • The GBPUSD pair is heavily bearish while trading below the 1.2610 level, key support is found at the 1.2520 and 1.2460 levels.

  •  GBPUSD pair is only bullish while trading above the 1.2660 level, key resistance is found at the 1.2710 and 1.2730 levels.

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Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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