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Aug 22 - 06:12 AM
GBP/USD - Consolidation Before The Next Drop, 1.2250 Remains Key
First appeared on eFXplus on Aug 22 - 03:50 AM
  • Price beginning to churn within a tight range and direction lost
  • Still favour the downside while the July 31 1.2250 high is intact
  • Initial resistance 1.2155 21DMA line and Aug 20 outside day high at 1.2180
  • Daily momentum has marginally flipped to negative
  • Slow stochs are attempting to turn down from o/b levels
  • We are short from 1.2110, just off-side, with 1.1910 obj and 1.2210 stop

GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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