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Jan 20 - 03:55 AM

GBP/USD - Don't Ignore The Hammers, They Can Work

By Peter Stoneham  —  Jan 20 - 02:33 AM
  • Up-trend resumption and a Mon hammer candle signalling the latest squeeze

  • Five hammers (bullish) since Nov 2, all providing good signals

  • Year's 1.3712 high initial target-resistance: 30DMA upper Bolli, 1.3758, abv

  • Resumption of underlying bull trend brings longer-term targets into play

  • 1.4068-1.4164 monthly cloud top and 100WMA

  • A buy on dips market and we bid by 1.3540, 30DMA line, for high 1.37s

  • 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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