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Jan 04 - 04:55 AM

GBP/USD - FX Traders Can Target Key Monthly Resistance

By Peter Stoneham  —  Jan 04 - 02:37 AM
  • Sterling closed December inside its monthly cloud, 1.3227-1.4199

  • 100MMA provides a January bull target at 1.4190

  • Price also closed the month-year out above the 30MMA upper Bollinger line

  • Early Monday gains to 1.3703 keeping the bull bias alive

  • Friday close above 1.3620-25 Dec dble day high adds to the bullish outlook

  • Dailies remain constructive but over bought: pull back risk is increasing

GBP/USD Trader:

GBP/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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