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Jul 14 - 04:55 AM

GBP/USD - Minimum Correction Exceeded But Bears Still In Control

By Peter Stoneham  —  Jul 14 - 02:55 AM
  • Had seen risk of a larger corrective rebound but so far 1.1967 the best

  • Bounce just exceeds minimum adjustment level at 1.1949

  • Next Fibo from 1.2405-1.1808 is at 1.2036

  • Offered market early Thurs as focus shifts back to the March 2020 lows

  • Daily RSI is o/s but 14-day negative momentum still confirming price drop

  • Underlying bear trend still very much alive: trend res. line at 1.2085

    For more click on FXBUZ















Source:
Refinitiv IFR Research/Market Commentary

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