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Mar 23 - 08:36 AM

GBP/USD - Back On The Ropes Following Decent Rebound

By Peter Stoneham  —  Mar 23 - 06:25 AM
  • EUR/GBP buyers return after Thurs-Frid adjustment makse room for gains

  • Strong recovery into Frid's close set up a further short squeeze Mon

  • 10DMA the key support level with no close below since Feb 18

  • Line comes in at 0.9082 and survives the Frid spike to 0.8990

  • volatile action clouding direction but can't ignore underlying bull trend

  • Five-week uninterrupted climb set to extend for a sixth week












EUR/GBP Trader:

EUR/GBP Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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