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Mar 13 - 03:55 AM

GBP/USD - Risk Of A Bullish Resumption As Correction Fades

By Peter Stoneham  —  Mar 13 - 03:30 AM
  • Late Tues rebound suggested the correction from 1.2893 32-wk high was over

  • However, sterling still offered and below 1.2800 early Wed

  • Tues 1.2747 low initial key support ties in with the daily Tenkan

  • Fibo retrace levels off the 1.2518-1.2893 climb removed at 1.2805-1.2750

  • The 50% retracement level is at 1.2706

  • Daily momentum positive and RSI flat

  • Risk of a bullish resumption

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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