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Sep 02 - 05:55 AM

GBP/USD - Bear Trend Demands Respect While Below 10DMA

By Peter Stoneham  —  Sep 02 - 03:45 AM
  • Potential for a corrective rebound after a five-day bear run

  • Negative momentum has faded slightly and RSI remains below the o/s 30-line

  • Still respecting the bear trend while below 10-day MA, today at 1.1704

  • A minimum correction off the 1.2277-1.1499 drop comes at 1.1683

  • Tempted to take a long at market but will await stronger signals

  • Weekly chart remains heavily bearish: targets March 2020 low point

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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