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Forex Flash: GBP/USD downside target at 1.53 – RBS

With Cable back to near recent 5-month lows area around the 1.5640, last at 1.5658, down from yesterday's highs at 1.5810, Senior FX Strategist at RBS Paul Robson thinks that “rallies should be sold and the downside target remains the 1.53 level,” the analyst says, mostly based on “Consecutive weeks of ‘lower lows’and ‘lower highs’ in GBP/USD,” Paul notes.
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Moody's cuts outlook on advanced economies

Moody's has just cut its outlook on advanced industrialized economies despite the significant improvements in global markets. Moody's notes that the US, the UK, China will continue to expand in 2013, while the Euro-Zone growth outlook may continue to be stagnant along 2013.
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