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Nov 11 - 06:55 AM

GBP/USD - CORRECTED-BUZZ-GBP/USD Reeling After Third Biggest Points Fall Of 2021

By Peter Stoneham  —  Nov 11 - 04:37 AM

Corrects headline and second bullet

  • Pattern of quick and sizeable falls and slower recoveries continues

  • Wed drop the third biggest of 2021, after last week's post BoE fall

  • Big Wed drop and this extended today with a new 2021 low of 1.3365

  • 14-day momentum looks stretched and RSI is hovering just above 30

  • Bigger picture bear target at 1.3166, a 38.2% Fibo taken off 1.1413-1.4250

  • The 100 and 200 week Mas are at 1.3282 and 1.3166 respectively

  • However, market looks ripe for a rebound and better selling levels likely

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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