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May 14 - 04:55 AM

GBP/USD - Consolidation Above The 200-DMA Likely

By Peter Stoneham  —  May 14 - 03:10 AM
  • Sterling looking constructive and eyes the May 3 1.2634 high

  • Price closed above the 200-day MA Mon and opened clear above Tues

  • The average at 1.2541 today

  • The 100-day MA and daily cloud base provide bull targets

  • Average at 1.2634 and cloud base at 1.2670

  • Weekly action continues to hold above the weekly cloud, top at 1.2474

  • Gain consolidation favoured for Tues

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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