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Sep 05 - 05:00 AM
GBP/USD - Buying GBP/USD Dips Surely Now The Prudent Trade
First appeared on eFXplus on Sep 05 - 02:40 AM
  • Risk of no deal lessens opening scope for a bigger GBP/USD rise
  • Traders are short, perhaps record short after false 1.2000 break
  • Recovery over 21-DMA signalled start of a correction
  • For correction to continue support @ 21-DMA @ 1.2153 must now hold
  • Recovery has already surpassed 76.4% drop from Aug's high
  • Complete unwind of that decline from 1.2310 is highly likely
  • Scope for 1.2502, min correction target 2019 drop 38.2% 1.3380-1.1959

GBPUSD Click here

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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