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Refinitiv
Mar 22 - 11:55 AM

GBP/USD - Risk Of A Bear Trap Below Thin Daily Cloud

By Peter Stoneham  —  Mar 22 - 09:35 AM
  • Sterling set for significant back to back daily losses

  • A drop to 1.2576 breaking the 200DMA and daily cloud base

  • Daily momentum and RSI readings confirm the sharp decline

  • However, the 200DMA is flat lining and the daily cloud very thin

  • Risk of false breaks and base in GBP/USD

  • Weekly cloud is supporting at 1.2560 and a flat lining 200WMA sat on top

  • Close on the week now key

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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