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Jul 09 - 09:48 PM
GBP/USD - Downtrend Intensifies, As The 2019 Low Beckons
First appeared on eFXplus on Jul 09 - 07:50 PM
  • Flat after opening -0.45% on recent weak data and political uncertainty
  • UK lawmakers back plan to hinder, but not stop a no-deal Brexit nL8N24A5EC
  • Charts show neutral momentum studies, 5, 10 & 21 daily and weekly MAs fall
  • Bearish setup initially targets 1.2409 flash crash and 2019 low
  • Close above 1.2618 falling 21 DMA needed to undermine the downside bias
  • London 1.2439 low and 1.2510 5DMA, that capped last week support/resistance

gbp jul 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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