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Oct 28 - 06:55 AM

GBP/USD - Chart Points To A Break Above The September Peak

By Martin Miller  —  Oct 28 - 05:00 AM
  • GBP/USD still trading above the broken 1.1405 Fibo, keeps bias on upside

  • 1.1405 Fibo is a 76.4% retrace of the 1.1738 to 1.0327 Sept drop

  • 30-day momentum turned positive at the end of trading on Tuesday = bullish

  • Note also the continued bullish alignment of daily tenkan and kijun lines

  • Expect an eventual break above Sept 1.1738 peak in coming sessions

  • GBP/USD Trader TGM2338. Previous update nL1N31S0JX

Source:
Refinitiv IFR Research/Market Commentary

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