The pound depreciated almost 0.6 percent to a 4-day low of 1.5662 against the US dollar in early deals on Tuesday from yesterday's fresh 4-month high of 1.5750. The pair closed yesterday's deals at 1.5720.
The cable is expected to show a pull-back to near the 1.56 support in a corrective rally. However, its overall long-term technical picture suggests a resumption of rally from that support with 1.58 seen as the next key target.
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