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Jul 04 - 08:36 AM
GBP/USD - Bears Take A Breather But Onslaught To Continue Next Week
First appeared on eFXplus on Jul 04 - 06:15 AM
  • Cls below 1.26 keeping bears in control: we have lowered our offer to 1.2640
  • Negative 14-day momentum still confirming bear bias but beginning to fade
  • 30DMA Bollinger lines are widening, hints at an increase in volatility
  • 10, 21 and 30DMAs in lock step and provide big resistance at 1.2660
  • Fibo levels off recent drop 1.2611 and 1.2644, 23.6% and 38.2% respectively
  • Seen best for USD this wk but GBP downside bias to hold into next week

GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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