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Nov 21 - 02:36 AM
GBP/USD - Bullish Hammer Needs Strong Close, But Strikes Cap
First appeared on eFXplus on Nov 20 - 10:50 PM
  • +0.05% with consistent interest in a tight 1.2925/1.2932 range

  • UK wage deals hit a more than 10yr high on October nL8N2805MV

  • Offshore failure below 1.2900 left a hammer reversal on daily candles

  • Close above yesterday's 1.2930 high would validate the bullish signal

  • Charts - momentum studies, 5, 10 & 21 DMAs conflict - neutral setup

  • Five week 1.2770/1.3012 range looks set to extend unless the USD trends

  • 1.2935 200M, 1.2945-50 385M, 1.2955-65 1BLN, 1.2990/00 1.821 BLN strikes cap

gbp2 nov 21 Click here

Source:
Refinitiv IFR Research/Market Commentary

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