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GBP/USD testing $1.6040

GBP/USD extends the recovery on Thursday, touching $1.6040. The market is now waiting for the UK retail sales release to come at 12:30 GMT (forecast: +0.5%, prior: -0.9%).

We see that the pair has almost returned to the July-October supporting trend line. Next important resistance is seen at $1.6055, $1.6070/80 and at $1.6100, while support lies at $1.6020, $1.6000, $1.5990 and $1.5985. 

Chart. H4 GBP/USD


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