By Peter Stoneham — Mar 08 - 02:00 AM
Battle of daily candle shadows as long upper-lower wicks hint at indecision
Indecision might actually help save GBP if supply has faded sufficiently
However, bears have the advantage while price is below 1.3958 10DMA line
Confirmation last wk of previous wk's inverted hammer a strong bear signal
Close below 10WMA this week to strengthen the trend reversal argument
Key tipping pt, 1.3566 Feb 5 low: minimum correction of 1.1413-1.4240 below
23.6% Fibonacci of that moves comes in at 1.3573: 1.3160 is 38.2% retrace
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Source:
Refinitiv IFR Research/Market Commentary