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Thomson Reuters
Dec 28 - 03:48 AM
GBP/USD - Thin Market Bid But 30DMA Has Shut The Door To Gains
First appeared on eFXplus on Dec 28 - 02:25 AM
  • Understandably little market conviction to push GBP too far as price thins
  • Broad USD weakness, led by USD/JPY, helping inject a small bid into cable
  • Thurs low 1.2616, just above a s/t 50% Fibo at 1.2608, 1.2477-1.2739
  • Recoveries this week failed at 30DMA, 1.2705 and now 21DMA stalling 1.2661
  • If a yr-end squeeze is to really kick in GBP has to clear 1.2739 Dec 24 high
  • GBP/USD set to wipe out bulk of 2017 recovery nL1N1YW03O

GBP/USD Daily Candle Chart: Click here

Source:
Thomson Reuters IFR Markets

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