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Or is it just Summer trading....GBPUSD fails once again below the 200 hour MA and 50% retracement
The GBPUSD could not push below the 1.5560 level and moved back above the 1.5579 area level where the 200 hour MA and 50% and it has been. That ignited the engines and the pair has raced higher since. The 4 PM London fix also got in the way as well. Perhaps there was an incentive to push the fixing price higher from one of the big players (of course there is no collusion anymore - or I hope the 14 year jail sentence doled out yesterday is a warning).
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