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Aug 25 - 06:55 AM

GBP/USD - Unconvincing GBP/USD Rally Leaves Risks Rooted To Downside

By Jeremy Boulton  —  Aug 25 - 04:45 AM
  • Aug 25 GBP/USD rises above 1.1836 Aug 24 peak to reach 1.1865

  • Rally slows ahead Aug 23 high at 1.1877

  • Stronger resistance between Aug 19 peak 1.1936 and Aug 18 low 1.1923

  • Pair has recovered from an oversold situation

  • CBI distributive trades data due 10.00GMT f/c -7 from -4

  • Weakening fundamentals will add to already bearish techs nL1N3000OP



Source:
Refinitiv IFR Research/Market Commentary

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