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Jul 22 - 05:55 AM

GBP/USD - FX Traders Lose Traction Above Key Level

By Peter Stoneham  —  Jul 22 - 04:45 AM
  • Fails to maintain traction above 200DMA, 1.2703

  • Pullback nears 1.2650 Tues low and risks a return to the 10DMA at 1.2608

  • Bull target at the key 1.2812 Jun 10 high put on hold

  • Daily momentum has faded and RSI was diverging from the open

  • 200DMA now pivotal for direction and close below to question bull bias

  • Weekly failure at the cloud also leaning on price: cloud base 1.2738












GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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