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Scandex Market Update – May 7

Scandinavian Capital Markets

BoE is tomorrow and it looks like the bounce to 1.2484 is the extent of the corrective bounce in wave 2 of C. Proposed resistance is now 1.2405/20, which is a well-defined horizontal level and the neckline of a short term head and shoulders. I am looking to short into that zone with downside focus on 1.2130/64.

Scandinavian Capital Markets Review

Source: https://scandex.com/2020/05/07/market-update-may-7/
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