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Jan 06 - 05:55 AM

GBP/USD - Increasingly Bearish As Support Gives Way

By Peter Stoneham  —  Jan 06 - 04:30 AM
  • Sterling drops under the 10-week moving average, support since w/e Nov. 4

  • Price also below the 1.1900 double day lows from Dec. 30 and Jan 2

  • Weekly bullish momentum fading fast and RSI confirming price drop

  • Daily action below the Ichimoku cloud top at 1.1899

  • Bears can target a key 50% Fibo level, 1.1150-1.2446, at 1.1798

  • Bearish risk increasing while weeklies and dailies deteriorate

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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