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Jun 09 - 04:55 AM

GBP/USD - Leans Bearish But Contained By Fibonacci Levels

By Peter Stoneham  —  Jun 09 - 02:40 AM
  • Sterling continues to pan out sideways within key Fibos

  • To the base a 50% read off the 1.2156-1.2666 gain is at 1.2411

  • Topside a 50% retrace off 1.3290-1.2156 is at 1.2723

  • A marked drop off in 14-day positive momentum noted

  • Daily RSI still in neutral territory but beginning to fall

  • Narrowing Bollinger bands suggests tight trade, low volatility to continue

  • We stand aside for now but lean bearish

    For more click on FXBUZ

















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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