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Mar 18 - 05:00 AM

GBP/USD - FX Traders Might Look To Play The Correction

By Peter Stoneham  —  Mar 18 - 03:05 AM
  • Steep six-day bear run taking price heavily into over sold territory

  • Rebounds have been small but risk is growing for a stronger adjustment

  • Weeklies trying to get back inside 30WMA Bolli envelope: 1.2137 lower line

  • We have a bid by the Tues 1.2055 close: stop would be tight below 1.20

  • 30DMA lower Bolli a target at 1.2271, just ahead of Tues 1.2274 high

  • Would be a high risk trade given bias and virus backdrop







GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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