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Aug 14 - 07:24 AM
GBP/USD - Bulls Need A Close Above 10-DMA To Make A Fast Buck
First appeared on eFXplus on Aug 14 - 05:05 AM
  • GBP/USD remains fragile, bulls need to close back above 10-DMA
  • Scope for a deeper drop to the 2017 1.1983 low in coming sessions
  • 30-day lower and upper bolli-bands are both pointing south = bearish bias
  • Our offer remains at 1.2110, which is ahead of falling 10-DMA, now at 1.2111
  • But a daily close above the 10-DMA would likely see a bigger squeeze higher
  • GBP/USD range on Wed has been 1.2045-1.2075, according to Refinitiv data

GBP/USD Trader:

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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