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Nov 09 - 03:55 AM

GBP/USD - Reversal Underway But Wary Of Next Downswing

By Peter Stoneham  —  Nov 09 - 02:04 AM
  • Bigger technical picture still bear biased but s/t reversal underway

  • Last bearish swing from 1.3834 to 1.3425 is being retraced

  • Frid hammer into Mon confirmation and new 1.3582 retrace high Tues

  • Key 50% Fibo is at 1.3630 and pivotal to Tues direction

  • 10DMA also 1.3630 and daily cloud base just ahead at 1.3622

  • A buy on dips strategy favoured but wary of the next downswing

    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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