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Sep 25 - 02:55 AM

GBP/USD - Shorts Won't Hang Around If 200 DMA Holds Again

By Ewen Chew  —  Sep 25 - 01:15 AM
  • GBP/USD beat back a third attempt to break the 200 DMA 1.2721

  • As that line again looks solid, shorts are growing weary

  • Covering of bearish GBP bets tests key resistance level

  • Friday close above 1.2763 breaks Ichimoku Cloud cover

  • Would also mark exit from Bollinger downtrend channel

  • That would spur further short-covering that may lead to 1.3000

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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