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Jul 11 - 06:55 AM

GBP/USD - Is Free To Fall

By Jeremy Boulton  —  Jul 11 - 05:35 AM
  • GBP/USD downside was stretched last week

  • Pair dropped below base 20-day Bollinger bands then bounced

  • Pair is no longer oversold so may resume its slide

  • Correction of June move below bands was more than 61.8% drop from May high

  • Current correction modest in comparison, less than 38.2% from Jun 16 high

  • The bearish GBP/USD trend may be intensifying nL1N2YS0GV



Source:
Refinitiv IFR Research/Market Commentary

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