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May 01 - 02:55 AM

GBP/USD - Mildly Corrective Following Month-End Rally

By Peter Stoneham  —  May 01 - 02:30 AM
  • Big sterling upswing late Friday and our 1.2510 offer met easily

  • New highs for the year at 1.2583

  • Pullback to 1.2548 early Monday as a thin market undermines the pound

  • We are positioned against a move higher and need a weak Monday close

  • Weekly-daily momentum readings positive but not confirming latest gains

  • We will reevaluate the long on any deeper corrective action

    Foe more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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