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Dec 09 - 08:36 AM
GBP/USD - Sitting Pretty But Bulls Should Tread Carefully
First appeared on eFXplus on Dec 09 - 06:25 AM
  • Bears very much in control but weekly action could warn of a turn

  • Six-consecutive lower seven-month lows defining the trend

  • Daily action below 30DMA Bolli envelope: risk of adj back inside envelope

  • Last week's acceleration could warn of a change in direction

  • Weeklies also outside the Bolli envelope: rebound risk high

  • If trend extends the 0.8315 low from April 2017 serves as a target













EUR/GBP Trader:

EUR/GBP Daily Candle Chart: Click here

EUR/GBP Weekly Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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