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Thomson Reuters
May 03 - 06:12 AM
GBP/USD - Counter Trend Long Looks To 200DMA Key Support
First appeared on eFXplus on May 03 - 03:50 AM
  • Maintaining a counter-trend long play from 1.3636
  • Trade ahead of key support at the 200DMA and 1.3536 avgerage pivotal
  • Price clear below the lower 30DMA Bolli, suggesting oversold conditions
  • However, strength of the bear run confirmed by negative momentum reading
  • Low stochastic reading and tenkan-kijun bear cross in the bear mix too
  • We have a tight stop and possible reversal at 1.3525, just below the 200DMA

GBP/USD Trader:

GBP/USD Daily Chart: Click here

Source:
Thomson Reuters IFR Markets

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