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GBP/USD Heavy as EUR/GBP Cross Spikes
After reaching it’s highest levels since February 2nd, cable abruptly sold off in early trading on Tuesday. Looking at the GBP/USD daily chart we can see that price has formed a bearish engulfing pattern. Lacking any fundamental driver, analysts point to a sharp rally in the EUR/GBP cross. Additionally, diminishing fears of a trade war between the US and China underpins the US dollar as investors move back towards ‘risk on’ sentiment. The rising trend line presents major technical support to the downside. A break out above the recent highs at 1.4241 will open the doors for bullish continuation to the upside and ... (full story)
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- Mar 27, 2018 9:28am Mar 27, 2018 9:28am
- timos
- | Joined Sep 2012 | Status: Member | 308 Comments
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- Mar 27, 2018 9:48am Mar 27, 2018 9:48am
- OnlineAddict
- Joined May 2014 | Status: From1toMillion | 3127 Comments | Online Now
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