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Bull Trigger Tripped, But Momentum Lacking

GBP
  • GBP/USD briefly tipped north of the bull trigger at 1.2525 to hit a new daily high at 1.2529. No real momentum pick-up on the break, but 1.2599 marks the next upside level.
  • Futures volumes pick up on the break of the level, helping tip daily activity around 35% ahead of average for this time of day - a theme evident across a number of major currency futures - with EUR, AUD, CAD futures markets among others all seeing better volumes ahead of the NY crossover.

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