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May 22 - 05:55 AM

GBP/USD - Stretched But Still Eyes March 21 Highs

By Peter Stoneham  —  May 22 - 04:00 AM
  • Short and caught, our 1.2684 trade stopped at 1.2730

  • An early Wed high of 1.2761 followed by a 1.2745 pullback

  • Price has removed the 76.4% Fibo of the 1.2893-1.2299 drop, 1.2753

  • Sterling now clear above its daily Ichimoku cloud

  • Bulls target the 1.2803 high from March 21

  • Positive daily momentum extending: RSI nearing 70 and over bought territory

  • We are side lined for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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