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GBPUSD Technical Analysis - Further Upside Contained

On the daily chart below for GBPUSD, we can see that the market is struggling to keep the upside momentum every time it breaks above the top of the range. The last breakout failed as US Retail Sales missed expectations across the board and sent the market lower on fears of an earlier than expected recession. The buyers though leant on the red long period moving average and started charging higher as US PMIs came out much better than expected and pushed the recessionary fears further away. If the... Read More

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Content Topics

Gbpusd

Technical

Analysis

Further

Upside

Contained

Forex

Posted: Apr 25 2023, 08:17

Author Name: forexlive

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