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Sep 23 - 04:55 AM

GBP/USD - Major 50% Fibo The Big Prize For Bears

By Peter Stoneham  —  Sep 23 - 02:40 AM
  • Main bear target now the 1.2447 50% Fibo off 1.1413-1.3481

  • Short lived rebound from 1.2714 Tues and close below daily cloud

  • Fall extends below 200DMA early Wed and challenges lower 30DMA Bolli

  • Bolli at 1.2682 and July 22 low at 1.2644

  • Fading the 1.2759 daily cloud base a strategy but we await stronger signals

  • Weekly chart heavily bearish and cancels out last week's bull adjustment















GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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