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Sep 14 - 03:55 AM

GBP/USD - Correction Underway Following Significant Slide

By Peter Stoneham  —  Sep 14 - 02:00 AM
  • Friday doji just ahead of 200DMA and daily cloud base warns of adjustment

  • Potential for a bullish engulfing line Monday: close above 1.2794 needed

  • Bears can afford a correction to converged 55DMA and cloud top, 1.2925-36

  • We offer by 1.2920 for bearish resumption and 200DMA break, 1.2735

  • Major bearish weekly close below 200WMA, 1.2933, gives direction call

  • 100WMA comes at 1.2749, last week's low 1.2763














GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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