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Nov 16 - 02:55 AM

GBP/USD - Adjustment Risk While Below Key Fibo

By Peter Stoneham  —  Nov 16 - 02:05 AM
  • Sterling off its 1.3450 Monday high but a bid holding

  • We have locked profits on our 1.3365 long play

  • Initial hurdle at 1.3467, minimum correction off 1.3834-1.3354

  • There is a risk the current rally is just an adjustment

  • Speed and magnitude of Nov 4 to 11 drop argues for correction

  • We will raise our stop again if 1.3467 is breached

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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