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Apr 05 - 01:55 PM

GBP/USD - Longs Clear Key Impediments But Still Face A Big One

By Christopher Romano  —  Apr 05 - 11:44 AM
  • GBP/USD reverses overnight drop then rallies sharply, hits 11-session high

  • Pair rallies above t-l off Feb 24 high, 30-DMA & 38.2% fib of 1.4240-1.3671

  • Daily RSI is rising & isn't overbought, implies upside momentum remains

  • GBP/USD bulls still face key impediments remain above the market though

  • 50% Fib of 1.4240-1.3671, recent daily highs in 1.4000/25 zone are hurdles

  • Should the rally extend & those impediments break Feb's high is targeted

  • For more click on FXBUZ




gbp/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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