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Dec 08 - 03:55 AM

GBP/USD - Wild Price Swings And Severe Trend Damage

By Peter Stoneham  —  Dec 08 - 02:05 AM
  • Wild price swings since putting in a 1.3540 top Friday

  • Severe damage to the underlying bull trend Monday: offered into Tuesday

  • Long upper and lower shadows are hinting at market indecision

  • Mon's hammer candle, not trend changing, but could still prove significant

  • However, with 1.3079-86 cloud twist on the horizon the trend could weaken

  • Key support today, 1.3225, 30DMA and Monday's low
















GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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