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Sep 15 - 03:55 AM

GBP/USD - Major Levels Defining A Volatile Range

By Peter Stoneham  —  Sep 15 - 02:15 AM
  • Choppy Mon price action and a foray above 1.2900 saw our 1.2910 offer met

  • High of 1.2918 ties in with 55DMA and daily cloud top

  • Target the cloud base and 200DMA at 1.2745 with stop above the 1.2935 55DMA

  • 14-day negative momentum is o/s, pullback risk, and RSI diverging bullishly

  • Key levels define the range and cloud looks to be key: 1.2719-1.2945

  • While below 1.3035 Sep 10 high risk remains skewed to the downside














GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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