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May 12 - 02:55 AM

GBP/USD - Bolli Envelope Top Could Prove Pivotal Today

By Peter Stoneham  —  May 12 - 01:57 AM
  • Three-day bull run peaks at 1.4167 and a mild adjustment takes hold

  • Price remains above the 30DMA upper Bolli line, 1.4101

  • Over bought condition sees RSI turn over just ahead of the 70.00 level

  • 14-day momentum still reflecting the rally off 1.3890 May 7 low

  • Risk of a bullish continuation pattern just tempers trading the pullback

  • We stand aside for now but will monitor a drop back inside Bolli envelope

    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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