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May 15 - 02:36 AM

GBP/USD - Major Support Level Comes Into View

By Peter Stoneham  —  May 14 - 02:25 AM
  • A more convincing cloud break as bears stamp their authority on price

  • Early Thurs weakness just stalling at the 30DMA lower Bolli, 1.2191

  • Apr 7 1.2166 low now the key support but bears look to major Fibo below

  • A 50% retrace of 1.1413 to 1.2648 is at 1.2031

  • Weeklies look ugly for the pound and target 1.2035 lower Bolli

  • Fading up-ticks favoured while below 1.2340, Wed high












GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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