MARKET COMMENTARY FOR 23TH-27TH AUG 2021

The market closed on Friday with an aggressive reversal on GBP/CAD after a false break of resistance zones 1.76126-1.75675. The formation of big pinbar/false break has clued us into a probability of a bearish momentum in near term. The key supports are 1.72753, 171819,1.70252, 168716.

2- GBP/NZD has been ranging for a short while, providing a clear support and resistance with its movement. A bearish Pinbar has formed at the clear boundary of the support zones 2.00698-2.00041 clueing us into a bearish bias in a short term.

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