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Sep 23 - 06:55 AM

GBP/USD - Trend Looking Good Despite Over Sold Readings

By Peter Stoneham  —  Sep 23 - 04:50 AM
  • Below 1.12 and both daily and weekly RSIs are showing over sold

  • No sign of divergence but bears probably need to tread carefully under 1.12

  • Our long stop tripped at 1.1205, 1.1157 the new trend low

  • Long-term bear trend in place since June 2021

  • Weekly action contained by the 10WMA, currently 1.1765

  • No close above the line since Feb. 2022

  • We stand aside for now but will be looking for stronger reversal signals

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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