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Dec 07 - 11:55 AM

GBP/USD - Potential For A Drop To The Year's Low

By Peter Stoneham  —  Dec 07 - 09:39 AM
  • Repeated rejections at the trend defining 10DMA, 1.3289

  • Tuesday pullback threatening to go below 1.3200

  • Year's low below at 1.3195 then a major Fibo at 1.3166

  • The 38.2% Fibo retrace is taken off the 1.1413-1.4250 climb

  • Trend only questioned above 1.3371 Nov. 30 high

  • 14-day momentum confirms drop but RSI still bumping along the o/s 30 line

  • Maintaining a 1.3285 short trade: close below 1.3200 sees stop lowered

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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