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May 13 - 05:55 AM

GBP/USD - Slight Bullish Advantage But Risk Of A Sideways Bias

By Peter Stoneham  —  May 13 - 03:55 AM
  • A marginally falling 200DMA, lacking significance, just capping GBP/USD

  • The average currently sat at 1.2542

  • Long lower candle shadows, Wed/Thurs, giving bulls slight advantage

  • Initial key support Thursday's 1.2487 low

  • A 61.8% Fibonacci retrace level below at 1.2430

  • Fourteen day positive momentum is fading and RSI flat lining

  • On balance a risk of a sideways bias this week

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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