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GBPUSD Forecast and Technical Analysis Nov 17th

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GBPUSD Forecast and Technical Analysis Nov 17th

GBPUSD reached our target 1.32200 triggered by UK retail sales data, which bettered expectations by growing 0.3% in October versus the forecast of 0.1%.

A fresh wave of US Dollar selling bias, amid renewed US political jitters over Russia's interference in the 2016 Presidential election, remained supportive of the pair's bid tone for the fourth consecutive session. Meanwhile, the House of Representative in the US passed the tax reform bill but failed to provide any fresh bullish impetus to the greenback. Attention now turning towards a Senate approval of the long-awaited US tax legislation.

Technicals:

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This article was written by Emre Tutucu for http://www.fxters.com/gbpusd-forecast-and-technical-analysis-nov-17th/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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