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Aug 16 - 04:55 AM

GBP/USD - Continues To Lean Bearish Despite Friday Bounce

By Peter Stoneham  —  Aug 16 - 02:51 AM
  • Short-term bear trend holding despite Friday rebound

  • Bulk of the move down from 1.3983 contained by 55DMA, today at 1.3906

  • We have taken a short at market, 1.3855, for 1.3590 with a 1.3935 stop

  • Target and stop above recent Jul 20 low and 100DMA respectively

  • However, Will also monitor a first test of the 200DMA, 1.3781

  • Weekly action still trying to negate w/e July 27 hammer candle (bullish)

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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