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Sep 10 - 03:48 AM
GBP/USD - Battle At The Cloud And Major Resistance Eyed Above
First appeared on eFXplus on Sep 10 - 02:20 AM
  • Battle at resistance continues into Tues after price closed above 55DMA
  • Close above 55DMA but below the daily cloud base, 1.2348
  • Early Tues and price action now fully inside the cloud
  • Natural target at 1.2432 cloud top: bull momentum up but stochs are o/b
  • While above the 10DMA, 1.2227, the charts favour further gains
  • Bulls watching developing hammer pattern, last week and this
  • 21WMA a target at 1.2537: GBP has a mid-1.25s look about it

GBP/USD Trader:

GBP/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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