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Jun 08 - 08:55 AM

GBP/USD - FX Traders See Bullish Advantage Weakened

By Peter Stoneham  —  Jun 08 - 07:40 AM
  • Sterling not comfortable above the 200DMA, 1.2680

  • Price pulls back a 100-points to 1.2629 before steadying

  • Hourly cloud top comes in at 1.2620 and base at 1.2595

  • Our 1.2635 short stop at 1.2740 survived by a small margin

  • Advantage with bulls but Brexit and virus concerns keep downside risk alive

  • Monday close below 1.2673 open would cast doubts over underlying bull run













GBP/USD Trader:

GBP/USD hourly candle chart: Click here

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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