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Jul 02 - 04:55 AM

GBP/USD - Shaping Up For A Significant Signal On The Week

By Peter Stoneham  —  Jul 02 - 02:45 AM
  • Weekly action shaping up for a strong bullish candle: negates prev bear week

  • Bounce out of the daily cloud extends to 1.2504, just shy of 21DMA

  • Next resistance points at the average, 1.2522, and the Jun 24 1.2541 high

  • A 50% Fibo off the recent 1.2812 to 1.2252 drop comes at 1.2532

  • We bid by 1.2390 to exploit any corrective adjustment for 1.2530-70

  • Cloud base and recent lows represent key support, 1.2252-1.2289














GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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