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GBP/USD Price Analysis: Dragonfly Doji favors Cable to lick post-BoE wounds, focus on 1.2750 and US NFP
GBP/USD treads water around 1.2730 as it defends the previous day’s rebound from the lowest levels in five weeks but lacks upside momentum during early Friday morning in Asia. In doing so, the Cable pair struggles to justify the previous day’s Dragonfly Doji bullish candlestick, as well as the downbeat RSI (14) line, amid a cautious mood ahead of the US Nonfarm Payrolls (NFP). The reason could be linked to the Bank of England’s (BoE) dovish hike joining the bearish MACD signals and the Pound Sterling’s sustained trading beneath the previously key technical support. Among them, the 50-DMA level of around ... (full story)