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Technical cheat sheet: GBP/USD's deceptive dance

We're examining an FX pair this week following GBP/USD's previous attempts at an upside breakout that failed to materialize.

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Forex GBP/USD
Written by: Monte Safieddine | Market analyst, Dubai
Publication date:

The overview is cautious in both weekly and daily time frames, but the latter may hold the key in terms of dictating its next move. There's also sentiment from both IG clients and CoT speculators on the same side, but employing different trading styles. One group has been taking the opposite direction, while a substantial portion of the others has favored momentum.


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The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 70% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.

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