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RSI Offers Bullish Signal for British Pound
GBPUSD breaks out of the range-bound price action from earlier this month, with recent developments in the Relative Strength Index (RSI) foreshadowing a larger correction in the exchange rate as the oscillator snaps the bearish trend from earlier this year. GBPUSD rallies to a fresh monthly-high (1.2273) as UK Prime Minister Boris Johnson meets with French President Emmanuel Macron as well as German Chancellor Angela Merkel to renegotiate the Brexit deal, but it remains to be seen if a compromise will be reached with less than 70 days until the October 31 deadline. The lingering threat of a no-deal Brexit may become ... (full story)
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- Aaafx-trader
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