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Oct 21 - 06:55 AM

GBP/USD - Breakout Topside But Still Has Work To Do

By Peter Stoneham  —  Oct 21 - 05:00 AM
  • Trend breakout topside: GBP set to test key resistance points nL1N2HC05X

  • Upper 30DMA Bolli and cloud top 1.3081, ties in with recent 1.3080-83 highs

  • We offer by 1.3080 but might consider stop and reverse at 1.3175

  • 1.3173 is the 61.8% Fibo of the 1.3481-1.2676 move

  • Converging daily trend lines gives a triangle base at 1.2890 today

  • Patchy weekly bull run resumes above 1.3083: risk to bear plays














GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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