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Jun 03 - 04:55 AM

GBP/USD Chart Shows Looming Downside Risk Facing Cable Traders

By Martin Miller  —  Jun 03 - 03:16 AM
  • There is a cloud twist on the daily chart on June 14, well below 1.4000

  • A cloud twist usually acts like a magnet when date of occurrence draws near

  • That highlights the looming downside risk facing cable traders

  • This market could drop could drop through the 30-DMA, now at 1.4058

  • Below the 30-DMA would unmask the daily kijun line that is now at 1.4027

  • Above Tue's 1.4250 Refinitiv data high will lessen the downside risk

  • GBP/USD Trader TGM2338

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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