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Apr 10 - 04:55 PM

GBP/USD - Risk-Off Damage Contained By Iffy Trendline And Stocks Rebound

By Content Admin  —  Apr 10 - 02:35 PM
  • Sterling partly recovered from its risk-off slide to 1.2346

  • That low is right by the up TL off March 24 and May 4 lows

  • Firmer Treasury yields post-payrolls and early derisking weighed

  • But S&Ps recovered after holding last week's lows, aiding GBP

  • A close above 1.2400 is needed to shake off Monday's weakness

  • If the up TL, Tues at 1.2358, is closed below, the 21-DMA is next

  • Weekly close above 1.2450 is key for failed Dec-Jan peaks breakout

  • US CPI on Wednesday is the next major event risk

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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