Bears tightened grip on Friday, offsetting initial positive signal of Thursday’s long-tailed daily candle, formed on post-BoE dip and subsequent bounce.
GBPUSD remains at the back foot on Wednesday and holding just above new 11-week low at 1.2527, posted on Tuesday after 0.5% daily drop, which completed bearish engulfing pattern on daily chart, adding to negative near-term signals.
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