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Nov 24 - 02:55 AM

GBP/USD - Corrective Risk High But Scope Likely Limited

By Peter Stoneham  —  Nov 24 - 01:48 AM
  • New 2021 low at 1.3344 but also a long lower candle shadow

  • Still a bear market but correction risk is high

  • We look to exploit an adjustment with our 1.3360 long play

  • A high risk counter trend play for 1.3510 with a 1.3290 stop

  • 14-day bear momentum has faded and RSI levelled off

  • Initial upside trigger at 1.3422, 10DMA line: 1.3344 first support

    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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