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Mar 09 - 02:55 AM

GBP/USD - Increasing Downside Risk While Below 200DMA

By Peter Stoneham  —  Mar 09 - 02:25 AM
  • So far only a mild adjustment after the Tuesday slide

  • More of a squeeze could bring daily trend resistance back into play

  • Fading the line, currently 1.1993, a strategy with a tight stop

  • The line is drawn off the 1.2400 Feb. 2 high

  • 200DMA initial resistance at 1.1903: increasing downside risk while below

  • Initial support 1.1836, session low, then Wed's 1.1805 low

  • Daily momentum readings remain negative and RSI flat lining at 38

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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