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Aug 15 - 07:24 AM
GBP/USD - Bulls Need Overcome Tenkan To Stand A Fighting Chance
First appeared on eFXplus on Aug 15 - 05:25 AM
  • GBP/USD market structure remains fragile despite the near-term rise
  • Scope for a deeper drop to the 2017 1.1983 low in coming sessions
  • The 30-day lower and upper bollinger-bands are both pointing south = bearish
  • Our offer remains at 1.2110, ahead of the tenkan line, now at 1.2112
  • Bulls need a daily close above the tenkan line to seize the initiative
  • Bulls also need a daily close above 10-DMA, now at 1.2106

GBP/USD Trader:

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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