GBP/USD: Bears jump in again as bulls fail to get over the gain line

GBP/USD Bears jump in again as bulls fail to get over the gain line By ross_burland GBPUSD Currencies Technical Analysis

Ukraine crisis is denting risk appetite and weighing on the pound.

Western allies moved over the weekend to block the access of certain Russian banks to the SWIFT international payments system. It has also announced plans to implement restrictions on the Russian central bank’s international reserves which are expected to be in the tune of 600 billion US dollars. The Russian president, Vladimir Putin may have been planning to use Central Bank assets to mitigate the impact of sanctions.

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