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Apr 29 - 03:55 AM

GBP/USD - Good For More Of A Corrective Rebound

By Peter Stoneham  —  Apr 29 - 02:20 AM
  • Rough hammer candle Thursday and bullish start Friday

  • Oversold conditions need adjusting and we have bought into the correction

  • High risk trade given strength of the underlying bear trend

  • We target 1.2770 but will monitor today's gains looking for downturn signs

  • Hourly cloud provides initial resistance, 1.2532-1.2632

  • Weekly RSI clear below 30, oversold risk here

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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