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Jun 14 - 06:55 AM

GBP/USD - Back Into Range Following Wednesday Failure

By Peter Stoneham  —  Jun 14 - 04:40 AM
  • Long upper candle shadow Wed into steep losses Thurs-Frid

  • A new significant high in place at 1.2859

  • Sterling slipping back into the middle of its previous 1.2676-1.2825 range

  • June 10 1.2689 low initial

  • Fourteen day momentum has flipped to negative and RSI is falling

  • First negative momentum print since May 1

  • Long upper shadow on the weekly and a 200-WMA rejection noted

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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