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Jan 15 - 06:55 AM

GBP/USD - Ominous Signs For Sterling Despite Reversal Warning

By Peter Stoneham  —  Jan 15 - 04:37 AM

• GBP/USD long lower candle shadows Mon-Tues but reversal found wanting

• Monday also recorded a hammer candle, bullish, with Tues confirmation

• However, GBP failed to even meet a minimum correction level at 1.2268

• Daily action show loss consolidation

• Tighter ranges might warn of a bearish continuation pattern

• Levels to watch at 1.2100, Monday low and 1.2268 23.6% Fibo of 1.2810-1.2100GBP/USD Trader: [page:2338]
GBP/USD daily candle chart:


(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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