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May 24 - 10:55 AM

BofA: Chart: A Tactical Sell Signal into GBP/USD Trend Line Resistance

By eFXdata  —  May 24 - 09:23 AM

Bank of America Global Research flags a tactical sell signal for GBP/USD into month-end. 

"A tactical sell signal near trend line resistance at 1.28.15-1.2800 suggest GBP/USD dips into month end.

Six of the last seven signals shown below alined with trend changes which means if a turn down ends May, it could persist into mid-June. Note the last high was in March at 1.2894," BofA notes.

Screenshot_2024-05-24_at_9.21.51___AM.png

Source:
BofA Global Research

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