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Dec 10 - 04:55 AM

GBP/USD - Indecision Creeping Into The Bearish Equation

By Peter Stoneham  —  Dec 10 - 02:59 AM
  • Sterling's underlying bear trend holding but beginning to slow

  • We remain short for 1.3135 with a profit locked to 1.3260

  • New 2021 low of 1.3162 and Thurs 1.3272 low the levels to watch

  • On the rebound 1.3256, 10DMA line: has contained the trend since Nov. 22

  • Oversold RSI reading and negative momentum fading warn of corrective action

  • Risk of a weekly Doji star also warns of a potential direction change

    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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