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Sep 15 - 04:55 AM

GBP/USD - Support At Lows But Set To Be Broken

By Peter Stoneham  —  Sep 15 - 02:55 AM
  • Wednesday's 1.1480 to 1.1542 rebound looked corrective

  • Sterling weaker from the Thursday open

  • Support at 1.1480 and 1.1464, recent lows

  • Key resistance at 1.1739, 38.2% Fibo off 1.2277-1.1407 drop

  • We lean bearish and will monitor further rebounds for fade opportunities

  • 14-day momentum remains negative and RSI is slipping lower again

  • Long weekly upper shadow: set to negate last week's hammer signal (bullish

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Source:
Refinitiv IFR Research/Market Commentary

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