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Nov 10 - 08:55 AM

GBP/USD - FX Traders Might Consider Longs Through To Dec

By Peter Stoneham  —  Nov 10 - 06:35 AM
  • GBP rallies out of uncertainty and nears 1.3291, a 76.4% Fibo 1.3481-1.2676

  • Little resistance above the Fibo until the Sep 1 1.3481 peak

  • 14-day positive momentum lifting again but RSI now nearing o/b levels

  • On pullbacks the daily cloud provides support and buy level at 1.3079

  • Cloud top pans out at 1.3291 until Dec 15, where it joins a trend supp. line

  • Buying dips a strategy but we stand aside for now














GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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