GBP/USD Outlook: Bounce From New Two-Week Low Needs To Regain 20DMA For Initial Reversal Signal

<p>Cable bounces from new two-week low (1.2247) in early European trading on Wednesday following previous day’s 1.3% fall, driven by risk aversion. Falling 30DMA contained Tuesday’s dip, guarding key supports at 1.2174/64 (Fibo 38.2% of 1.1409/1.2647/7 Apr low), with larger uptrend from 1.1409 (20 Mar low) expected to stay intact if recovery extends and leaves […]</p>
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