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Apr 23 - 03:55 AM

GBP/USD - Reversal Signal Given But Lacking Confirmation

By Peter Stoneham  —  Apr 23 - 02:30 AM
  • Bear bias is holding and our long play is in trouble

  • Late Monday recovery did form a hammer candle (bullish)

  • However, a soft start Tuesday keeps downside risk alive

  • Squeeze point is up in the mid-1.24s and high 1.24s the turning point

  • Key support at Mon's 1.2299 2024 low

  • Fourteen day momentum confirming latest weakness but is stretched

  • We will maintain the long for now

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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