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GBP/USD: Will Stress Test Results Play A Part?

Published 16/12/2014, 08:31
EUR/USD
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GBP/USD
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GBPUSD Daily chart - Price had a negative day yesterday - pretty much engulfing all of the indecsion we saw through the latter part of last week. However, like EURUSD this Pair is still trading within a consolidation range that stretches back over a couple of months and in doing so is Price has converged. The OsMa still remains above the 0 level - yes it's gark green - for another entry with LT trend - Osma would need to get below the 0 level and we could effectively target the LT S&R level below us around 1.53340. As long as Price is trading below the weekly fib - look for continuations lower.

UK data to look out for today are : Bank Stress Test Results, BOE Gov Carney Speaking at 9am GMT & CPI y/y figure..

Daily chart



GBPUSD Daily chart 16th December 2014

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