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Mar 22 - 04:55 AM

GBP/USD - Supply Fade Becoming A Pattern But Longs At Risk

By Peter Stoneham  —  Mar 22 - 03:28 AM
  • Weak market but key 1.3779 Mar 5 low intact

  • Early Europe and indications of supply fade: long lower candle shadow

  • Our 1.3925 long play remains vulnerable while price below 1.3926 30DMA line

  • Pivotal resistance and bull trigger point 1.4010, 50% Fibo 1.4240-1.3779

  • 14-day momentum maintains negative reading and RSI confirming weakness

  • Weekly chart sideways bias while above 10WMA, currently 1.3839

    For more click on the links below.
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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