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Feb 13 - 05:00 AM

GBP/USD - FX Trader Indecision A Direction Killer

By Peter Stoneham  —  Feb 13 - 03:05 AM
  • Recovery off 1.2873 Mon low hits the buffers as market indecision sets in

  • Wed action capped by the 10DMA at 1.2991 and price now holding just below

  • Fibos off recent 1.3210-1.2873 drop at 1.3002 and 1.3042, 38.2% and 50%

  • To the base the 100DMA at 1.2920 and lower 30DMA Bolli at 1.2892

  • Weeklies just holding a partial retrace of last week's 322 point drop

  • On balance a sell but stronger signal needed: a 200WMA-1.3068 fade possibly








GBP/USD Trader:

GBP/USD Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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