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Feb 13 - 05:55 AM

GBP/USD - Euro Drop Targets A 76.4% Fibonacci Retracement Versus Sterling

By Peter Stoneham  —  Feb 13 - 03:40 AM
  • A new 2024 low of 0.8511 and bear pressure building once more

  • A lack of corrective pullbacks leaves our 0.8565 offer stranded

  • Will revise strategy should 0.8500 give way

  • Next big level at 0.8493, the low from August 2023

  • Daily momentum readings are negative and RSI is falling

  • Bears can target a 76.4% Fibo at 0.8453, taken off the 0.8204-0.9260 climb

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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