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Nov 17 - 03:55 AM

GBP/USD - Fibo Level Holds Key To 1.3600 And Above

By Peter Stoneham  —  Nov 17 - 02:38 AM
  • Another marginal breach of the 23.6% Fibo and a new trend high, 1.3480

  • Fibo at 1.3467 taken off the 1.3834-1.3354 drop: close above needed

  • Pullback to 1.3450 disappointing for our 1.3365 long play

  • However, we have raised the stop again to lock in points

  • Bearish divergence on 14-day momentum a concern but RSI now rising

  • Need to clear 1.3500 before bulls can drive home the advantage

  • Breach opens up a run to 1.3600

    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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