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Feb 09 - 08:55 AM

GBP/USD - EUR In Trouble As Sterling Targets Key Fibo Level

By Peter Stoneham  —  Feb 09 - 06:40 AM
  • A poor week for the cross; set for a fourth straight daily decline

  • Lows of 0.8861 and an eye on a key 50% Fibo

  • The 0.8851 retrace level is take off the 0.8723-0.8978 Jan. 20-Feb. 3 climb

  • Daily momentum is fading but remains positive

  • Close below the 10-day moving average, 0.8870, to strengthen the bear move

  • We lean bearish but are side lined for now

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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