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Oct 22 - 05:55 AM

GBP/USD - Relaxes After Biggest One-Day Gain Since March

By Peter Stoneham  —  Oct 22 - 03:05 AM
  • Major up-day Wed and our 1.3080 short stopped two-pips from 1.3177 high

  • Speed and magnitude of the move argues for an adjustment Thurs-Frid

  • Initial support on the pullback at 1.3069, daily cloud top

  • Cloud twist 1.2981-85 Oct 27 could pull price lower next week

  • Topside and marginal breach of 1.3173 Fibo is significant

  • Bulls in control but potential for cheaper sterling levels















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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