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Nov 09 - 04:55 AM

GBP/USD - FX Traders Should Consider Oct 21 High Key

By Peter Stoneham  —  Nov 09 - 02:35 AM
  • Price negates potential for a double daily top at 1.3177: Oct 21-Nov 6 highs

  • New recovery high at 1.3198 and bid holding early Monday

  • Last Fibo off the 1.3481-1.2676 drop a target at 1.3291

  • 14-day momentum confirms gain along with sharply rising RSI reading

  • Key support now the daily cloud top at 1.3079

  • Weeklies now distancing from 200WMA, 1.2926, on stronger rally

  • 1.3481 the major target, Sep high: 1.3516 Dec 2019 high behind















GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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