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.
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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