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Apr 01 - 07:55 AM

GBP/USD's Direction Depends On Which Side The Cloud Breaks

By Martin Miller  —  Apr 01 - 06:22 AM
  • Spot stuck within daily cloud, spanning 1.3715-1.3969 region, for 7 days

  • Only a daily close above the tenkan line at 1.3774 would be a bullish sign

  • That would have to be confirmed with a daily close above the cloud top

  • We are looking to get short at 1.3830 in anticipation for cloud base break

  • GBP/USD Trader TGM2338. Previous update nL1N2LT0MR

  • History suggests GBP/USD will do well this April nL1N2LT3KJ

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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