GBP/USD outlook
Friday’s rebound from 50-DMA if followed by a daily close today above 1.2582 would open the doors to 1.2706-1.2773 (upper Bol Band). The ADX has been flat lined for quite some time…hence the odds of the trend gathering pace are high. A move higher to 1.27 could also yield a bullish crossover on the DMI.
On the downside, a daily close below 50-DMA would add credence to bearish DMI, push RSI below 50 and thus could yield a sell-off to 1.2255 (Jan 18 low).
On the downside, a daily close below 50-DMA would add credence to bearish DMI, push RSI below 50 and thus could yield a sell-off to 1.2255 (Jan 18 low).
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