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Mar 11 - 03:55 AM

GBP/USD - FX Traders Look To Weeklies For Clearer Direction

By Peter Stoneham  —  Mar 11 - 02:24 AM
  • Having based at 1.3779 on Mar 5 volatility has clouded direction

  • However, a constructive bias has held and our 1.3865 long is performing

  • Weekly chart cuts through the noise and shows a clearer bullish path

  • Fibo at 1.3955 just containing topside and 10WMA pivotal support at 1.3781

  • close on wk above 1.3956, last wk's open, gives a bullish engulfing line

  • No major bear trend to reverse but an engulfing line still very bullish

    for more click on FXBUZ














GBP/USD Trader:

GBP/USD daily candle chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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