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Nov 20 - 02:55 AM

GBP/USD - Emerging From The Shadows; Targets Major Highs

By Peter Stoneham  —  Nov 20 - 01:55 AM
  • Bull bias holds and strengthened by long lower Thurs candle shadow

  • Series of lower daily highs could be a concern

  • However, we have removed our 1.3315 offer and will monitor Frid close

  • 14-day positive momentum confirms latest price gain

  • Key trigger 1.3322, Nov 11 high: break to rein in 1.3481, 1.3516 major highs

  • Weekly action constructive: negating last week's long upper candle shadow

  • Buy on dips strategy gaining favour and close on week now key
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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