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Sep 01 - 03:55 AM

GBP/USD - Could Hit March 2020 Lows Before A Major Rebound

By Peter Stoneham  —  Sep 01 - 02:30 AM
  • Sterling's fall pushing the 30DMA lower Bolli before it: 1.1519

  • Drop under 1.1600 bringing the March 2020 lows onto the bears' radar

  • Last time the market was this over sold on the daily RSI was April

  • However, not seeing any momentum divergence

  • Set for a third consecutive bear week

  • We respect the bear bias but reluctant to sell at market

  • Will look for value on rebounds

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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