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Greenback Firming Amid The Weakness In Equities

USD
  • Greenback picking up a firm bid amid the weakness in equities with EURUSD and Cable through the lows of the day and the latter notably back below the prior break level of 1.2448.
  • Overall, that GBPUSD breach represents an important short and medium-term break and signals the next stage of the uptrend that started on Sep 26 last year. The focus is on a climb towards 1.2584 next, the top of a MA envelope study. Support to watch lies at 1.2260, the 20-day EMA.

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