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"By restricting the study to corporation tax the results omit the lion's share of the tax burden for retailers and therefore misrepresents what is actually a higher than average tax rate with a growing overall burden."
- BRC (based on Reuters)
Pair's Outlook
Pair has lost some inertia and at the moment is hovering around 1.57. Although short term technicals suggest that pair still has upside potential it is highly unlikely it will manage to show significant gains if it wont breach 1.574 and 1.578. In case of losses first support lies with the 200-day SMA at 1.560.
Traders' Sentiment
Bears took a significant chunk of the market from the bulls yesterday (+10%) and at the moment they continue to hold 70% of all open positions in the market. Different form yesterday bears have posted most (52%) of the pending orders.
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