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May 25 - 03:55 AM

GBP/USD - Bulls Need More Conviction To Avoid Bearish Magnet

By Peter Stoneham  —  May 25 - 02:24 AM
  • 10-day moving average continues to define the up-trend, currently 1.4133

  • 14-day bullish momentum just confirming latest squeeze higher

  • 2021 highs 1.4240-1.4233 bull targets but profit taking risk increasing

  • Bulls need to break into new ground soon to negate a cloud twist

  • June 14 twist 1.3914-47 could start to attract and erode GBP's advantage

  • Weekly action strong but 30WMA upper Bolli is beginning to turn over

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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