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Jan 05 - 03:55 AM

GBP/USD - Bear Winds Blowing But Trend Holding Up

By Peter Stoneham  —  Jan 05 - 02:01 AM
  • Mon's sharp reversal lower may have freed up room for another rally

  • Daily RSI climbing again but 14-day positive momentum fading

  • Underlying bias remains bullish but 1.3703 now the big hurdle

  • Bull trend could survive further pullbacks to 1.3430 but vulnerable below

  • Short-term MAs flattening and losing significance

  • Gain consolidation likely abv 10DMA, 1.3540, below 30DMA upper Bolli, 1.3660

















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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