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Aug 18 - 04:55 AM

GBP/USD - In Trouble As Death Cross Looms Large

By Peter Stoneham  —  Aug 18 - 02:39 AM
  • Sharp Tues losses but sterling could go significantly lower still

  • Potential for a 50/200DMA death cross adds to increasing bear risk

  • Bear trend defined by the 50-55DMAs and these now pivotal

  • Close below 200DMA adds to bear bias and opens up the 76.4% Fibo at 1.3670

  • Set for as resumption of the weekly bear trend from early Jun 1.4250 high

  • We are short from 1.3855 and 50-pips locked in looking for 1.3590

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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