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Sep 27 - 01:55 PM

GBP/USD - Encouraging Signs For Longs But Impediments Remain

By Christopher Romano  —  Sep 27 - 11:43 AM
  • GBP/USD rallies sharply away from the Sep 24 daily low but the rally stalls

  • Gains halt near the 10-DMA and 38.2% Fib of the 1.3913-1.3610 decline

  • Daily RSI implies upward shorter-term momentum is in place however

  • Daily charts show a possible bull pennant continuation pattern forming

  • Should the rally resume resistance in the 1.3750/60 zone is an impediment

  • Break of that resistance likely drives a short squeeze, targets 1.3850/55

  • For more click on FXBUZ














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Source:
Refinitiv IFR Research/Market Commentary

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