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Aug 12 - 06:55 AM

GBP/USD - Bears Have Taken Their Eye Off The Ball

By Peter Stoneham  —  Aug 12 - 05:50 AM
  • Plenty of conflicting signals while GBP remains contained

  • Price holds towards 1.2982 range base following Friday's reversal signal

  • However, long lower and upper candle shadows highlight indecision

  • Disappointment that Frid's engulfing line has not brought a range break

  • On balance a bear call but need a 1.2982 break soon

  • Weekly action suggests a top is in place at 1.3185















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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