Technical Analysis

UK FTSE down -0.1% as PM May and parliament continue to muddle through Brexit The major European indices are ending the session with declines.   As a reminder, US markets are closed today. The provisional closes are showing: German DAX, -0.7% France’s CAC, -0.3% UK’s FTSE, -0.1% Spain’s Ibex, -0.6% Italy’s FTSE MIB, -0.35% Portugal’s PSI
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Muddies the water for the bulls again…. The GBPUSD is dipping back below the broken 100 day MA at 1.28925, muddying the bullish waters.  The pair moved above the moving average earlier in the week (Monday and Tuesday). Each run higher eventually failed, and the price moved lower (see red shaded areas). Yesterday, the price
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GBPUSD retraces NY range. EURUSD lags.  The vote came and went and given the resounding defeat, and vote of no-confidence, the price action is a little head scratching.  “The market” can be all knowing and maybe it knows more than I do, but the technicals have turned around. Looking at the hourly chart, the price
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