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Aug 18 - 05:55 AM

GBP/USD - Chart Hints At Bigger Losses To Come

By Martin Miller  —  Aug 18 - 03:55 AM
  • GBP/USD's 14-day momentum reading remains negative, tilts bias to downside

  • Those that are bearish are on course to force a daily close under the cloud

  • That would open the pathway to much bigger losses in coming sessions

  • The thick daily cloud, that spans the 1.2726-1.2862 region, weighs

  • If there is a break, daily close above 1.2818 Fibo, that would be bullish

  • 1.2818 Fibo is a 38.2% retrace of the 1.3144 to 1.2617 (July to August) drop

  • GBP/USD Trader TGM2338. Previous upside nL1N39Y0KE

Refinitiv IFR Research/Market Commentary


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