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Jan 12 - 06:55 AM

GBP/USD - Reversal Risk But Limited Pullback So Far

By Peter Stoneham  —  Jan 12 - 05:10 AM
  • Up-trend extends to 1.3645 and so far only a modest pullback

  • However, mkt looks stretched above 1.36 and deeper pullback risk increasing

  • Daily RSI turning lower from overbought and bull momentum is fading

  • Minimum correction off the 1.3162-1.3645 move comes at 1.3531

  • Support ahead at 1.3556 and 1.3552, 10 and 100DMAs

  • Trend holding but looks vulnerable: we wait for stronger reversal signals

    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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