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Dec 31 - 05:00 AM
GBP/USD - Losing Momentum And December Fires A Warning Shot
First appeared on eFXplus on Dec 31 - 02:55 AM
  • Mon's 1.3150 peak likely the high water mark for the recent 2% rally

  • Charts are providing some clues as to early 2020 direction

  • GBP's failure to hold a mthly cloud break and long upper candle wick key

  • However, a hammer candle on the yearly chart highlights GBP 2019 resilience

  • Brexit will stamp its mark on the market again in Jan: GBP at risk

  • Investors to shun the pound if uncertainty takes a stronger hold

  • For the last trading day of 2019 a drift back under 1.31 21DMA likely




GBP/USD Daily Chart: Click here

GBP/USD Monthly Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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