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Jun 17 - 04:55 AM

GBP/USD - Dailies And Weeklies Telling Different Stories

By Peter Stoneham  —  Jun 17 - 02:40 AM
  • Magnitude of the Wed-Thurs rebound hinted at a reversal

  • However, market offered early Frid and focus returns to the downside

  • 14-day momentum remains negative and RSI turns lower from neutral levels

  • Minimum correction off 1.1934-1.2405 recovery already met, 38.2% at 1.2225

  • Daily bear trend resumption the risk into Frid's close

  • Weeklies tell a different story: potential long handled hammer (bullish)

  • We will stand aside and see how the week concludes for GBP/USD

    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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