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GBP/USD 1.6060 is key ahead 1.6085

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet has explained that the GBP/USD trades near a fresh weekly lows on the back of a weaker than expected UK Manufacturing PMI readings.

Key Quotes:

“Despite dollar weakness against most rivals, the pair was unable to attract buyers?

“With 20 SMA now extending below the critical Fibonacci level at 1.6235 that anyway is the level to break to the upside, to deny a continued slide”.

“A break below 1.6160 however, should fuel the slide towards 1.6085 as a probable daily target”.

Japan Monetary Base (YoY) came in at 35.3%, below expectations (38.9%) in September

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