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Dec 16 - 08:55 AM

GBP/USD - Soars Above Key Fibo, 30-DMA: Look For A Close Above

By Martin Miller  —  Dec 16 - 07:26 AM
  • Cable has broken above the 1.3321 Fibo and 30-DMA at 1.3350

  • 1.3321 Fibo is a 23.6% retrace of the 1.3834 to 1.3162 (Oct to Dec) drop

  • A daily close above these levels will likely lead to much bigger gains

  • That would unmask the 1.3419 Fibo, 38.2% retrace of the same fall

  • 14-day momentum on course to switch to positive for 1st time since early Nov

  • GBP/USD Trader TGM2338. Refinitiv matching data used

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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