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Aug 07 - 03:55 AM

GBP/USD - Mixed Signals Damaging Trend Reversal Call

By Peter Stoneham  —  Aug 07 - 02:00 AM
  • Thursday hammer candle into Friday confirmation

  • Makings of a trend reversal of the 1.3144-1.2620 move

  • We have a 1.2652 long play, stop raised to 1.2685 with a 1.2870 target

  • Softer price action early Monday and below the key 10DMA, 1.2799

  • Fourteen day momentum negative and RSI pointing down

  • Longs at risk with signals mixed

  • Clear break above 1.2800 needed to bolster the reversal call

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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