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Apr 08 - 03:55 AM

GBP/USD - Down But Not Knocked Out As Range Holds

By Peter Stoneham  —  Apr 08 - 02:29 AM
  • Steep two-day decline to 1.3725 and short-term bull run negated

  • We lean bearish but might look play the 1.3671-1.4010 range

  • Small bid early Thurs but bear risk remains despite adjustment risk

  • While below daily cloud base, 1.3773, risk to key 1.3671 Mar 25 low

  • May 5 cloud twist, 1.3884-1.3903, might slow further declines

  • Weekly chart shows 21WMA at 1.3671 too: pivotal level

    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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