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May 19 - 03:55 AM

GBP/USD - Bears Re-Grouping For Run At 2021 High

By Peter Stoneham  —  May 19 - 01:57 AM
  • Managed to pick the top, so far, with our 1.4060 long profit take Tuesday

  • Bid is holding on pullback to 1.4180 and run at the 1.4240 2021 high likely

  • Current up-trend defined by the 10-DMA at 1.4085

  • Minimum minor correction level at 1.4170, 23.6% 1.4008-1.4220

  • Positive 14-day momentum holding firm but RSI o/b and turning over

  • Corrective risk but pullbacks seen limited: buying dips favoured

    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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