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Aug 26 - 05:55 AM

GBP/USD - FX Traders Forced To Consider Playing The Range

By Peter Stoneham  —  Aug 26 - 03:55 AM
  • Market has lost its way and neutral momentum readings highlight this

  • Rebound out of Mon's 1.3054 low now stalling at 1.3158

  • A small bid holding but tight early Wed range frustrating direction

  • Bigger picture argues fading 1.3200 for 1.2980 with stop above 1.3266

  • Weekly action positive with strong momentum but clear 1.3266 break needed

  • Overbought weekly studies fit with the daily stalling scenario: RSI at 62














GBP/USD Trader:

Source:
Refinitiv IFR Research/Market Commentary

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