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May 08 - 03:55 AM

GBP/USD - Breakout Extends And Eyes Long-Term Resistance

By Peter Stoneham  —  May 08 - 02:20 AM
  • Sterling's topside breakout extends to 1.2652

  • Market pushes above a short-term trend resistance line at 1.2626

  • Daily momentum positive bit not confirming latest price lift

  • Bull targets include the 100WMA, 1.2711, last close above in Feb

  • A 61.8% Fibo of the 1.4250-1.0327 drop comes in at 1.2751

  • Shallow bull bias support at 1.2494, daily trend line off 1.1805 Mar. 8 low

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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