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Dec 14 - 04:55 AM

GBP/USD - Bulls Need To Force A Break And Close Above Key Fibo

By Martin Miller  —  Dec 14 - 02:35 AM
  • GBP/USD outlook is mixed, where spot goes from here is very uncertain

  • Bulls need to force a break and daily close above the 1.3320 Fibo

  • 1.3320 Fibo is a 23.6% retrace of the 1.3834 to 1.3162 (Oct to Dec) drop

  • That would enable them to stage a bigger fight back above 30-DMA at 1.3368

  • Fourteen-day momentum remains negative, however, market structure bearish

  • GBP/USD Trader TGM2338. Previous update nL1N2SY0HW

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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