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GBP Poised For Gains, Oil Rally Contradicts Fundamentals

Published 18/08/2016, 08:01
GBP/USD
0.80%
USD/JPY
-0.65%
EUR/GBP
0.00%
XAU/USD
1.01%
GC
1.42%
CL
0.12%

Clive Lambert, Director at FuturesTechs presents his technical view on major markets. Key points are as follows –

GBP/USD – We have a higher low and bullish reversal candle formation. We might see a short squeeze. Short unwind likely with pair revisiting 1.32-1.3315 levels. Support at 1.2962 needs to remain intact

EUR/GBP – Bearish price divergence on daily RSI and MAC…potential for a pull back

USD/JPY – Keeping a very close eye on 100.70

Crude – Oil rally contradicts fundamentals. Could continue to go higher on this one

Gold – not really seeing any kind of decisiveness. $1380 is a major Fib level resistance

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