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Nov 24 - 02:55 AM

GBP/USD - Fatigue Sets In And Possible S/t Top

By Peter Stoneham  —  Nov 24 - 02:10 AM
  • Bull run extends to 1.3396 Mon but beginning to look tired

  • Mon long upper candle shadow hints at demand fade and adjustment risk

  • 10DMA line, 1.3248, a pullback obj and 1.3198 Nov 19 low a tipping point

  • Daily and weekly below market cloud twists noted a way off the pace

  • 14-day bull momentum coming off highs and RSI flattening near o/b values

  • Dip buying a strategy but we maintain an offer ahead of 1.3481 2020 high

















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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