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Sep 16 - 03:55 AM

GBP/USD - It Might Not Pay Bulls To Be Too Greedy

By Peter Stoneham  —  Sep 16 - 02:05 AM
  • Consecutive daily failures to climb above the 55DMA, 1.2942

  • Daily studies are bearish but oversold: 14-day momentum a stand out

  • Confluence of resistance points a hurdle to any further correction

  • Minimum retrace off 1.3481-1.2763 at 1.2932, cloud top 1.2958 and 55DMA

  • Weeklies show retrace stalling ahead of 200WMA, 1.2933

  • Short from 1.2910 for 1.2745 with 1.3040 stop: wary of bull breakout
















GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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