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Apr 22 - 03:55 AM

GBP/USD - Conflicting Signals After Steep Gains

By Peter Stoneham  —  Apr 22 - 02:35 AM
  • Risk of a deeper corrective pullback while below its cloud top

  • Cloud parameters currently 1.3845-1.3955

  • A Wed hammer candle, long lower shadow, offers bulls some hope

  • Speed and magnitude of the Frid-Mon rally has exhausted short-term demand

  • Profit taking could tame any further up-ticks

  • Key levels 1.4017 Mar 4 high and 1.3789 trend res. now supp.

    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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