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Nov 05 - 02:55 AM

GBP/USD - Pressured By Techs And Uncertainty

By Peter Stoneham  —  Nov 05 - 02:00 AM
  • Big wed price swings but bears win out with a 1.2993 close

  • Early Thurs and cloud base pressured at 1.2953

  • 14-day positive momentum fading and set to flip on a sub-cloud close

  • Bears target Nov 2 1.2854 low then 1.2794, 76.4% Fibo off 1.2676-1.3177

  • Wkly long upper candle shadow highlights demand fade, doji shows indecision

  • Fading up-ticks a strategy but we stand aside for now














GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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