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Jun 09 - 03:55 AM

GBP/USD - FX Traders Should Consider Dip Buying

By Peter Stoneham  —  Jun 09 - 02:20 AM
  • Bullish momentum increasing but daily RSI sideways in o/b territory

  • New trend high at 1.2757 and our 1.2635 short stop tripped

  • Weekly action just being contained by the Ichimoku cloud base at 1.2738

  • Weekly momentum still reflecting steep March decline

  • A close back below the 200DMA, 1.2684, could upset the bullish order

  • For now the topside path looks to offer the least resistance

  • EUR/GBP falls clear inside its daily cloud but progress stalling

GBP/USD Trader:

GBP/USD daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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