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17.05.2022 01:06 PM
Technical review for GBP/USD: a local increase is possible

GBP/USD is likely to increase, thanks to growing risk appetite, strong data on jobless claims and good wage level in the UK. A noticeable local growth is very plausible.

Technical picture:

The quote is currently above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and is growing steadily, while the stochastic indicator is in the overbought zone and is indicating a likely slowdown of growth.

Possible dynamics:

A consolidation above 1.2385 may lead to a limited growth to 1.2480.

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Pati Gani,
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