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Thomson Reuters
May 16 - 03:48 AM
GBP/USD - Long-Term Fibo A Bear Target But Adj. Risk Increasing
First appeared on eFXplus on May 16 - 02:15 AM
  • New 3-month low Wed at 1.2827 and little in the way of a bounce
  • Stalling around the 30DMA lower Bollinger line, 1.2840, and adjustment risk
  • Aggressive accounts could buy at mkt, 1.2849, for 1.2925, stop below 1.2773
  • However, we await the next signal and better r/r ratio
  • Weekly action threatens a close below the Kijun line, 1.2939
  • Longer-term targets are in the 1.25-1.26s: 61.8% 1.1491-1.4377 = 1.2593

GBP/USD Trader:

GBP/USD Daily Candlestick Chart: Click here

Source:
Thomson Reuters IFR Markets

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