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Back Technical analysis
GBP/USD – Smart Money Analysis: Is the Pound Set to Continue Its Decline?
The GBP/USD pair has lost its
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The GBP/USD pair has lost its bullish momentum, and at the current moment, the chart suggests that the pound sterling may continue to decline. The price reacted to bearish imbalance 27, which allowed traders to open short positions and created new, less favorable prospects for the pound. Unfortunately for the British pound, the UK inflation report provided it with no support. Although the Consumer Price Index rose to 3.1%, which should make the Bank of England's stance more hawkish, bears
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