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Jul 10 - 12:12 PM
GBP/USD - Counter-Trend Move Underway But Looks Fragile
First appeared on eFXplus on Jul 10 - 09:55 AM
  • No classic reversal signal but Wed's counter-trend rally casts doubts
  • Price back inside the 30DMA Bolli envelope
  • Set to nudge abv Mon's high and 23.6% Fibo off 1.2784-1.2439 drop at 1.2521
  • Strong bull RSI confirmation but momentum readings need more of a rally
  • Cable could be at a cross roads, Fed vs Brexit and counter trend moves
  • Weeklies propped by 30WMA lower Bollinger line at 1.2451

GBP/USD Trader:

GBP/USD Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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