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Feb 12 - 02:55 AM

GBP/USD - Contained At Lower Levels With Downside Risk

By Peter Stoneham  —  Feb 12 - 02:15 AM
  • Sterling carving out a new, lower range vs the dollar

  • On the base 1.2518, Feb. 5 low, and 1.2643 on top

  • The 55 and 200-day averages also in the mix, 1.2676 and 1.2565

  • Fourteen day momentum readings remain negative and RSI is flat-lining

  • We have lowered our offer to 1.2670 for another run at the low 1.25s

  • Weekly action hovering just below the cloud top after last week's hammer

  • On balance still a bear market but tighter ranges the likely theme this week

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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