UKOUSD 22 Jul 2024 On the daily timeframe, UKOUSD is trying to reverse the trend to bullish after being bearish since the beginning of this month. The commodity is inside a kumo with a price position of 83.367, and is trying to strengthen to break out of the kumo. However, when referring to the stochastic indicator, the chart continues to be below the 50 level and is now declining towards the 20 level, signaling that the bearish pressure is still there and it is possible that the bearish trend may continue if there is no strong bullish signal.
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