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GBPUSD buyers had their shot. They missed. What next?
The GBPUSD moved higher yesterday but could not sustain momentum and get above the 38.2% retracement of the May trading range. The inability to extend above that level was a big failure for the buyers. The sellers are back in control. The price decline today has taken the pair below the 100-hour moving average, but the price has rebounded. The 200-hour moving average at 1.23872 is now close risk. If the sellers can keep the lid against that moving average, they are in firm control. If the price...
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Posted: May 31 2023, 13:31
Author Name: forexlive
Views: 111671