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Sep 16 - 04:55 AM

GBP/USD - FX Traders Might Target 1985 Lows

By Peter Stoneham  —  Sep 16 - 03:05 AM
  • This week's rejection just ahead of 1.1739 Fibo proving costly for GBP

  • Losses to 1.1440 and bears eye the 1.1407 Sept. 7 and 2022 low

  • Still three-months to go but GBP on course for worst year since 2016

  • Little major support until the 1.0520-45 lows from Feb-Mar 1985

  • 14-day negative momentum increasing but RSI is near over sold levels

  • Favour fading corrective rebounds to 1.1738 but side lined for now

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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