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Aug 27 - 06:12 AM
GBP/USD - Bid Holding As Bears Lose Their Punch
First appeared on eFXplus on Aug 27 - 03:55 AM
  • Gain consolidation just taking the edge off any bear initiative
  • While below 1.2285 wkly trend res. line we still favour fading up-ticks
  • We have an offer by 1.2270 for 1.2020 and would set a 1.2360 stop
  • Monday and Friday highs, 1.2285 and 1.2296 initial resistance
  • 10 and 21DMAs provide the support, 1.2170 and 1.2146 respectively
  • Daily momentum still bullish but stochastic is turning over from o/b levels

GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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