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Oct 10 - 08:55 AM

GBP/USD - Short-Term Adjustment Turning Into A Longer-Term Move

By Peter Stoneham  —  Oct 10 - 06:35 AM
  • Sterling set for a fifth straight day of gains

  • Bulls line up 1.2309, a 38.2% Fibo off 1.2745-1.2039

  • Price nudges above the 21-day moving average, 1.2265

  • The 10-day moving average, 1.2177, flips from resistance to support

  • Oct. 4 key day reversal and bullish engulfing line proved accurate

  • Bull trend developing: targets the 200-day moving average, currently 1.2441

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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