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Jun 20 - 02:55 AM

GBP/USD - Last Week's Bull Signal Needs Confirmation

By Peter Stoneham  —  Jun 20 - 01:55 AM
  • Last week closed with a large hammer candle, bullish: needs confirmation

  • Close on the week above 1.2210 needed to complete the candle signal

  • Early Monday and the market is trying to lift

  • 14-day momentum is holding negative values and RSI neutral to lower

  • Initial support at 1.2170, a 50% Fibo off the 1.1934-1.2405 climb

  • Highs at 1.2357 and 1.2405, June 17 and 16 respectively, the resistance

  • The 10DMA could be key this week as it starts to lean on price, 1.23

    For more click on FXBUZ















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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