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Mar 29 - 05:55 AM

GBP/USD - FX Traders Should Consider A Bigger GBP/USD Rally

By Jeremy Boulton  —  Mar 29 - 03:42 AM
  • GBP/USD rose 1.2676 to 1.4240 between Sep 2020 and Feb 2020

  • Pair has subsequently dropped to 1.3671 when longs were pared

  • Number bullish bets insignificant compared prior bearish bets

  • Longs reduced by over 40% in past 3 weeks

  • Less weight on GBP/USD which remains in a steep bull trend

  • 38.2% (min correction target) rise since Sep is 1.3643

  • Post correction bull targets: 1.4040, 1.4268, 1.4453, 1.4638, 1.5235

  • Related EUR/USD commentary nL1N2LR0E3




GBP/USD Click here

GBP/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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