By Peter Stoneham — May 19 - 04:55 AM
Short-term range broken Thurs and our 1.2460 short performing
Stop lowered to entry and target set at 1.2290
Close below 1.2400 sees stop lowered again to lock profits
Fourteen day bearish momentum has faded but RSI still falling
Big support levels looming large
The 55DMA at 1.2367, 38.2% Fibo at 1.2345 and cloud top 1.2337
Will monitor strength of any rebounds away from this support area today
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Source:
Refinitiv IFR Research/Market Commentary