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Jan 17 - 05:55 AM

GBP/USD - Tough Call But Bulls Hold A Slight Advantage

By Peter Stoneham  —  Jan 17 - 03:40 AM
  • As with EUR/GBP, cable is playing out sideways below a Fibonacci

  • A 76.4% retracement of the 1.2446-1.1842 drop is at 1.2303

  • A more minor Fibonacci provides support at 1.2118, off 1.1842-1.2288

  • An increase in bullish momentum is confirming a slight positive bias

  • Still a tough call but bulls are holding a slight advantage

  • We lean bullish but will wait for the charts to clear before trading

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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