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Dec 01 - 07:55 AM

GBP/USD - Major Hurdle Tested; Break Opens Up Key Fibo

By Peter Stoneham  —  Dec 01 - 05:45 AM
  • GBP/USD's late Wed rebound put the underlying bull run back into play

  • We almost caught the base with our 1.1925 short profit take

  • The 10DMA, 1.1995, still to define the bull run on a closing basis

  • Key 200DMA next hurdle for the pound, currently 1.2155, a test seen

  • A break above the 200DMA would target a 50% Fibo, 1.2280, off 1.4233-1.0327

  • Daily techs turn bullish and can draw support from a strong November close

  • We will stand aside for now

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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