GBP/USD extends pullback from two-month top

GBP/USD retreats towards 1.3500 as Brexit, yield favor bears ahead of UK/US PMIs

GBP/USD consolidates recent losses around a two-month top, refreshing intraday low to 1.3545 during Thursday’s Asians session. The cable pair took a U-turn from highest levels since early November the previous day after the US Federal Open Market Committee (FOMC) Meeting Minutes conveyed hawkish bias of the policymakers, suggesting a faster rate-hike and plans to discuss balance-sheet normalization.

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GBP/USD analysis: Remains below December high

Starting from Tuesday up to the middle of Wednesday’s trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged.

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