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GBP/USD Price Analysis: 100-SMA tests bears below 1.2500
GBP/USD licks its wounds around a fortnight low, after dropping the most in two weeks, as the 100-SMA probes the downturn during Thursday’s Asian session. Even so, the cable pair stays pressured around 1.2480-80 levels by the press time. Although nearly oversold RSI (14) joins the 100-SMA to challenge the pair sellers around 1.2460, bearish MACD signals and sustained trading below 200-SMA keep sellers hopeful. Also favoring the bears is the pair’s downside break of an ascending support line from May 13, now resistance around 1.2700. It’s worth noting, however, that multiple supports around the 23.6% Fibonacci ... (full story)
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traderathome - Joined Mar 2008 | Status: PVSRA with Traderathome | 1523 Comments
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- Posted: Jun 1, 2022 7:56pm
- Submitted by:Category: Technical AnalysisComments: 2 / Views: 1,482
