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Oct 21 - 06:55 AM

GBP/USD - Chart Shows A Market On The Verge Of A Slump

By Martin Miller  —  Oct 21 - 04:45 AM
  • GBP/USD could be on the verge of a big slump

  • Fourteen-day momentum could register a negative reading at Friday's close

  • The expectation grows for a drop to retest the daily kijun line at 1.0910

  • A break and daily close below the kijun line will accelerate further down

  • Layers of recent session highs weigh between 1.1238-1.1440

  • This resistance zone should limit near-term recovery moves

  • GBP/USD Trader TGM2338

Source:
Refinitiv IFR Research/Market Commentary

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