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Dec 17 - 05:55 PM

GBP/USD - Shed Post-Fed And BoE Gains, Faders Waiting At Fibos

By Randolph Donney  —  Dec 17 - 02:45 PM

  • Bulk of sterling's post-Fed and BoE rally relinquished into week's end

  • Risk-off flows early weighing on the pound, helping USD as a haven

  • Pound also weighed on by record UK COVID cases, political angst nL1N2T21HP

  • Thur and Fri's highs were by 61.8% and 50% Fibos of the Nov. 18-Dec. 8 drop

  • The 50% Fibo at Fri's 1.3338 high is also the daily kijun nL1N2T21HP

  • Prices look set to close bearishly below the tenkan at 1.3268

  • December's 1.31615 trend lows are by twin Fibos of the 2020-21 recovery

  • A close below Thur's 1.3243 looks pivotal for post-Fed, BoE reaction

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Source:
Refinitiv IFR Research/Market Commentary

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