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May 15 - 02:55 AM

GBP/USD - New Recovery High After Strong Tuesday Close

By Peter Stoneham  —  May 15 - 02:10 AM
  • Four-day bull run extends into a 1.2592 Tues close

  • A further nudge higher to 1.2599 early Wed

  • Hammer style candles highlight strong demand into the May 9 and 14 closes

  • May 3 1.2634 bull target high now joined by the 100DMA at 1.2632

  • Daily cloud base behind at 1.2661

  • Falling daily cloud warns of building resistance

  • Converged 200 and 10DMAs provide support at 1.2544

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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