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GBPUSD - No Change
As expected the MA's are providing the resistance here since they were removed them to a close last Tuesday. In a similar fashion to the EURUSD I would prefer to see if the bears can test the lower BAT support at 1.5988 before becoming involved while it may also be possible that we complete a TD Buy Setup at or around the lower BAT level which would be ideal. Should the bears test this level I will look for long opportunities initially as we remain under the control of the bulls on the weekly chart.
A good run for the bulls today but I see nothing yet to change my view here while the MA's hold and the last bearish thrusts high at 1.6475 is not removed to a close the bulls have a lot of work to do.
Cheers
Foggytrader