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May 18 - 06:12 PM

GBP/USD - FX Traders Wary Of Adjustments To The Cloud

By Peter Stoneham  —  May 18 - 02:40 AM
  • Five consecutive bear closes and dailies look stretched below 30DMA Bolli

  • Happy to maintain an offer by 1.2310, ahead of the cloud base at 1.2312

  • Upside potential could be fuelled by a 1.2301-07 cloud twist, May 20

  • Weeklies point to sub-1.20 levels: 30WMA lower Bolli comes at 1.1962

  • Can't rule out a test of the low 1.14s before a significant reversal

  • Weekly cloud twist at 1.2622-70 seen critical: bear bias negated above










GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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