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Jun 03 - 04:55 AM

GBP/USD - Constructive But Weekly Resistance Building

By Peter Stoneham  —  Jun 03 - 02:55 AM
  • Back above the 10DMA but a risk of churning

  • Price held between two Fibo retrace levels, 1.2411 and 1.2723

  • Momentum readings are positive but RSI remains neutral

  • Potential weekly double top 1.2666 and negative momentum give downside risk

  • The 10-week moving average just behind at 1.2690

  • Weekly bear signal, 21 and 30WMAs crossing below the 200WMA

  • We stand aside for now

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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