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Euro Price Forecast: EUR/USD at Risk of Reversal with US PCE Data on Tap
2021-02-26 07:30:00
US Dollar Outlook: FX Volatility Ramps as Bond Selloff Intensifies
2021-02-25 23:22:00
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Oil Price Approaches 2020 High Even as RSI Divergence Takes Shape
2021-02-25 20:30:00
Crude Oil Price Forecast: Demand and Supply Drivers Firing on All Cylinders
2021-02-25 04:30:00
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Dow Jones Falls on Rising Yields, ASX 200, Nikkei 225 Tumble
2021-02-26 01:30:00
Stock Market Forecast for the Week Ahead: Growth to Value Rotation Heats Up
2021-02-25 18:30:00
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Gold Price Forecast: Gold Breakdown Accelerates – XAU/USD Bulls Done?
2021-02-26 20:00:00
Nasdaq 100, Gold, Financial Fund Flows During Yields-Driven Volatility
2021-02-26 17:30:00
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GBP/USD Weekly Forecast: GBP/USD, EUR/GBP Reversal, Now What?
2021-02-26 16:00:00
British Pound (GBP) Latest: GBP/USD Correction From Extremes
2021-02-26 09:00:00
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US Dollar Outlook: FX Volatility Ramps as Bond Selloff Intensifies
2021-02-25 23:22:00
US Dollar Outlook: DXY Index Rejects 50-Day Moving Average
2021-02-24 23:50:00
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  • Has anyone explained the risk of inflation on the markets in terms of tendies?
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 67.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PYZh1az5EC
GBPUSD 2011 and 2012 Strikingly Similar So Far

GBPUSD 2011 and 2012 Strikingly Similar So Far

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD 2011 and 2012 Strikingly Similar So Far

Prepared by Jamie Saettele, CMT

The similarities between 2011 and 2012 are striking. An overlay of the 2 years’ price history reveals a nearly identical pattern. In both cases, RSI exceeded 70 at the end of April as well. I’m not sure what to make of the similarities other than it seems too obvious for this to remain in place much longer. If the pattern breaks, then the GBPUSD would head higher towards the trendline that extends off of the 2009 and 2011 highs above 16500. Supports are 16150 and 16060/80. (note-red dots on chart indicate when RSI > 70).

Bottom Line (next 5 days) – ?

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