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Currency Analyst since 2010

CB: GBP/USD may test $1.6700

GBP/USD slumped to $1.6830 as British manufacturing PMI came at 55.4, below the forecast of 57.2.

Analysts at Commerzbank think that the pair will decline to $1.6694/80 and then to $1.6280/53 (38.2% retracement of the move from 2013 to 2014 and 2014 low). Resistance is at $1.6935/65 and $1.7048.

Chart. Daily GBP/USD

GBP
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