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GBP/USD: Balanced Flows Despite Another Brexit Bill Passes

FX:GBPUSD   British Pound / U.S. Dollar
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The muted buy-side activity in the Sterling even as the article 50 extension bill won enough endorsement in the UK parliament seems to be a reflection of enough good news priced in.

Most of the volume concentration ( PoC ) fell right around the middle of the daily range, suggesting that playing the edge of the range for potential rotations is a scenario to consider.

The intermarket studies ( DXY + bond yield spread) remain unambiguously bullish , supporting the notion of buying on weakness at relevant decision points.

The key levels where clusters of demand may be found come at roughly 1.1310-1.13, followed by the 3rd touch of an uptrend line and ahead of Wednesday’s POC at 1.1345-50.

The overall structure of HH & HL coupled with constructive order flow as per the impulsive demand observed vs corrective setback (more 2-way business) supports the bullish bias too.
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