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Feb 23 - 03:55 AM

GBP/USD - Impressive Bull Trend Needs Some Maintenance

By Peter Stoneham  —  Feb 23 - 02:06 AM
  • With a daily RSI reading above 74.00 sterling is looking a little rich

  • We sold into the Monday rally and now look for a pullback within the trend

  • Breach of the 30DMA upper Bolli, 1.4030, also hints at market overreaching

  • However, 14-day still confirming the Monday push to a new trend high, 1.3086

  • Trend can afford a run back to 10DMA, 1.3930, but a break seen damaging

  • Target 1.3750 but given the counter trend nature will monitor adjustments

















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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