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May 16 - 02:55 AM

GBP/USD - Key Day Friday But Struggling For Confirmation

By Peter Stoneham  —  May 16 - 02:10 AM
  • Offered market early Monday having put in a 1.2296 recovery high

  • Reversal warning: Frid key day, higher high, lower low, cls abv prev. cls

  • However, failure to gain confirmation today keeps bears in control

  • 14-day negative momentum has faded but RSI rejected at 30 line from above

  • There is still scope for an adjustment and we have a bid near 1.2083 Fibo

  • If filled would loo for minimum correction off 1.3290-1.2156 at 1.2424

    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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