FXstreet.com (Jakarta) - The GBP/USD fell after the UK's budget forecast the deepest contraction in modern times and deflation before a modest recovery in 2010. After breaking its downtrend, the GBP/USD is building a long-term bottom.

Today the pair broke the 1.45 handle, currently testing the 1.44 support. If the support is broken, the pair will likely fall to the 1.42-area support. However, we believe it will trade in the 1.44-1.50 area, said Hans Nilsson, analyst at CMS Forex.

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