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Jul 08 - 11:00 AM
GBP/USD: The Level To Watch Is 1.2429 - Citi
First appeared on eFXplus on Jul 08 - 09:15 AM

Citi discusses GBP/USD technical outlook and highlights the importance of the 1.2439 as a key pivotal level.

"It is the 76.4% pullback of the 2016-2018 rally and held decisively in December 2018 (low was 1.2441).

On the one hand a continued hold could effectively create a double bottom off his pivotal area and open up the way for renewed topside gains," Citi notes. 

"However a break below (weekly close) would negate this potential and suggest further losses back towards the 20176 lows at 1.1840 are likely," Citi adds. 

Source:
Citi Research/Market Commentary

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