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UK and the EU will resume trade talks. GBP/USD is bullish yet overbought, technically bullish in the near-term, but the direction depending on Brexit headlines. The 4-hour chart shows that it is trading roughly 200 pips above all of its moving averages, with the 20 SMA advancing above the larger ones. You can see that technical indicators have turned flat but within overbought readings, indicating that buyers are still in control. Let's see how the trend goes on.

Edited 22 Oct 2020, 14:04

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normalising soon, man.

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