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May 30 - 05:55 AM

GBP/USD - 50% Fibo Seen Pivotal For The Short Term Trend

By Peter Stoneham  —  May 30 - 03:40 AM
  • Daily up-trend is beginning to stall, which helps our 1.2645 short play

  • Widening daily Bollingers suggest a pick up in volatility/breakout

  • Will need a 1.2723 break, 50% Fibo 1.3290-1.2156, to strengthen bull run

  • On a deeper pullback a corresponding bear trigger at 1.2540, 10DMA line

  • Weeklies look top heavy after two sharp bull closes

  • 10-week moving average is at 1.2697

    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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