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Oct 12 - 04:55 AM

GBP/USD - Key Fibo Break Might Force The Long Play

By Peter Stoneham  —  Oct 12 - 02:35 AM
  • Bulls on course to test key 50% Fibo at 1.3079

  • Frid cls abv 1.30 significant: gains confirmed by momentum and RSI readings

  • A choppy bull run from Sept 23 has only had two negative days

  • Latest gains have also negated a bearish continuation pattern on weeklies

  • A clear close above 200WMA completes the bearish call

  • Buy on dips strat favoured but a 1.3079 breach might forces longs for some














GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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