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Aug 09 - 04:55 AM

GBP/USD - Reversal Signal Boosted By Tuesday Rebound

By Peter Stoneham  —  Aug 09 - 02:45 AM
  • Late Tuesday rebound kept the Aug. 3 hammer reversal alive

  • Long lower candle shadows hinting at supply fade

  • We lean bullish and look to buy a dip to 1.2690

  • An area of resistance runs from 1.2885 through 1.2805

  • A 38.2% Fibo, off 1.31445-1.2620, is at 1.2820

  • Negative daily momentum looks poised to flip positive in coming sessions

  • Close above the 10DMA, 1.2773, key today

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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