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Oct 30 - 03:55 AM

GBP/USD - Bear Bias Defined By Falling Daily Tops

By Peter Stoneham  —  Oct 30 - 03:00 AM
  • Bear bias holding and recent action contained by the 10DMA, 1.2152

  • Thursday 1.2070 low pivotal support for today

  • Falling daily tops since Oct. 11, 1.2337, 1.2331 and 1.2288

  • Fourteen day momentum increasingly negative

  • Daily RSI flat at neutral levels having failed to confirm the Thursday rally

  • We lean bearish but will wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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