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Aug 19 - 04:55 AM

GBP/USD - Support Points Tumble; Year's Low A Viable Target

By Peter Stoneham  —  Aug 19 - 02:55 AM
  • A choppy Thursday session culminating in a weak close

  • Our 1.2097 short play hit its target at 1.1965

  • Removal of a 61.8% Fibo at 1.1963 on-route to a 1.1895 early Friday low

  • The next retracement off 1.1761-1.2291 is at 1.1886

  • little in the way of strong support until the 1.1761 2022 low

  • Negative momentum increasing and RSI confirming bear bias

  • Price has also dipped below the lower 30DMA Bollinger

  • Will look for more indications of an oversold market


  • For more click on FXBUZ















Source:
Refinitiv IFR Research/Market Commentary

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