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Aug 13 - 06:12 AM
GBP/USD - Bias Remains Squarely On Downside, 10-DMA Should Cap
First appeared on eFXplus on Aug 13 - 04:20 AM
  • Mkt structure remains fragile, scope for a deeper drop to 2017 1.1983 low
  • 30-day lower and upper bollinger-bands are both pointing south = bearish
  • Our offer remains at 1.2110, ahead of the falling 10-DMA, now at 1.2121
  • An element of caution advised as larger than usual ranges are expected
  • GBP/USD range on Tuesday has been 1.2042-1.2082, according to Refinitiv data
  • GBP/USD remains fragile, expect good supply near 10-DMA

GBP/USD Trader:

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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