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Aug 22 - 09:48 PM
GBP/USD - Current Strength More About Positioning Than News
First appeared on eFXplus on Aug 22 - 07:25 PM
  • Flat, opened +1.1% after misinterpreting Merkel comments nL5N25I4DR
  • Market is short, so cable is vulnerable to occasional topside corrections
  • Irish back stop remains the sticking point for no deal Brexit - no progress
  • Daily charts suggest short term base in place, weekly charts remain bearish
  • Closed above 1.2151 21 DMA with a bullish 5 DMA cross of 10 & 21 DMAs
  • Close above 1.2309, 38.2% June/August fall would be positive for next week

gbp aug 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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