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May 06 - 02:55 AM

GBP/USD - REFILE-BUZZ-GBP/USD June 2020 Low A Viable Target After Thurs Collapse

By Peter Stoneham  —  May 06 - 02:15 AM

Corrects month in headline

  • Price sold the market a dummy Wed with a feint to the topside before lower

  • Subsequent slide through the base of a bearish pattern was aggressive

  • Market still offered early Friday despite o/s indicators

  • We stood in front of the bear train Thursday, will now adopt more caution

  • Still looking for a sizeable adjustment but stronger signals needed

  • Overall risk to 1.2252 June 2020 low but we stand aside for now

    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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