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Mar 12 - 04:55 AM

GBP/USD - Sizeable Correction Below The 200WMA

By Peter Stoneham  —  Mar 12 - 03:05 AM
  • Correction off the 1.2950 Mar. 8 high dipped below 1.2800 Monday

  • The low of 1.2796 just ahead of a 38.2% Fibo

  • The retracement off the 1.2518-1.2950 climb is at 1.2785

  • While above the Fibo a bullish resumption the risk

  • Last week's close above 200WMA still significant but price currently below

  • Fourteen day positive momentum has faded but still above the zero line

  • On balance risk of a further adjustment lower before higher again

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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