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GBPUSD rallies from 1-year lows but downside risks remain
GBPUSD is confronting the falling 50-day simple moving average (SMA) at 1.3429 after buyers powered up around the 1.3186 vicinity, opposing the six-month decline from the more than three-year high of 1.4248. The bearish SMAs are shielding the negative trend in the pair. That said, the Ichimoku lines are indicating some waning in negative pressures but have yet to confirm that buyers have the upper hand. Looking at the short-term oscillators, they are showing no clear signs that upside drive is weak, suggesting that the bullish momentum is growing. The MACD has distanced itself from its red trigger line and has nudged ... (full story)
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