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Dec 14 - 03:55 AM

GBP/USD - Bears Hammered Into Submission

By Peter Stoneham  —  Dec 14 - 02:10 AM
  • Rebound off 55DMA into Frid's close and long lower candle shadow

  • Hammer candle negates some of this Wed's cloud twist, 1.3079-86

  • The cloud itself climbs from Wed, further reducing twist pull

  • However, weekly twist out to late Jan, 1.2464-1.2510, should not be ignored

  • Despite shift in short term bias and bull candle signal bears still in play

  • Will take a climb above last week's 1.3476 high to trigger stronger squeeze

  • We stand aside while signals are mixed
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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