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Refinitiv
Oct 25 - 12:12 AM
GBP/USD - Must Regain 1.2878, Else Bulls Will Throw The Towel
First appeared on eFXplus on Oct 24 - 10:05 PM
  • GBP/USD fades lower Fri following extension of Brexit debacle

  • Longs on the brink of folding as bullish bias at risk nL5N27931J

  • Call for election brings no relief, pending EU approval of delay

  • Closing below 1.2878 marks exit from Bollinger uptrend channel

  • Confirmation of end of uptrend will drive GBP/USD towards 200 DMA

  • Long-term chart barrier, now at 1.2715, should hold up on first test











Source:
Refinitiv IFR Research/Market Commentary

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