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May 28 - 11:55 AM

GBP/USD - Advancing On Resistance Despite Being Stretched

By Peter Stoneham  —  May 28 - 09:40 AM
  • Sterling knocking on the door of 1.2800 and our short stop, 1.2810, at risk

  • Three advancing candles, white knights, strengthening GBP's grip

  • Initial resistance at 1.2803, March 21 high

  • The big bull target is at 1.2893, the March 8 high point

  • Daily momentum and RSI are over bought but no sign of a pullback

  • On a correction support is at 1.2720, 10-day moving average

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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