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GBP/USD giving way through support 1.5070

FXstreet.com (London) - GBP/USD had been holding up against a 5yr high in Consumer confidence readings, where the pair initially lost a marginal bit of ground.

30 minutes after the release, the pair has stretched lower to 1.5048, recording a new low on the session and a bearish flag on the chart. Next support is seen 1.5013, 100 pips away from the start of the move, and last defence before exposing the March lows.

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