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Nov 05 - 07:55 AM

GBP/USD - Year's Low Calling, Big Drop Risk Below

By Peter Stoneham  —  Nov 05 - 05:43 AM
  • Lows of 1.3439, just shy of the 1.3437 30DMA lower Bolli

  • Biggest daily points drop since Sept 28 and still going early Friday

  • Daily RSI is looking stretched but 1.3412 2021 low is calling

  • We set a counter trend bid at 1.3415 to exploit a correction

  • High risk strategy and a tight stop will be set

  • Below 1.3412 and potential to key Fibo and wkly cloud base, 1.3166-1.3158

  • 1.3166 is the 38.2% Fibo off the Mar 2020-Jun 2021 1.1413 to 1.4250 climb

    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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