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Dec 07 - 02:55 AM

GBP/USD - Bullish Pointers Emerging But Down Trend Intact

By Peter Stoneham  —  Dec 07 - 01:45 AM
  • Price beginning to turn but the down trend still intact while below 1.3371

  • The Nov 30 high is the top of a daily consolidation pattern

  • Closer to market the 10DMA could be a squeeze point today at 1.3294

  • The minimum correction off the 1.3834-1.3195 drop is at 1.3346

  • 14-day momentum diverging bearishly, still reflecting the drop from 1.3514

  • Daily RSI is lifting off the 30.00 oversold level: confirming the rebound

  • We maintain a short from 1.3285 for 1.3170 but now face risk of a reversal

    For more click on FXBUZ















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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