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Jul 02 - 06:55 AM

GBP/USD - Short-Term Trend In Need Of Adjustment

By Peter Stoneham  —  Jul 02 - 04:57 AM
  • After a fairly steep six-day fall risk of rebounds is high

  • The risk of a drop under 1.3700 also high as bearish pressure holds

  • A weak close on the week could open up big bear targets

  • April 12 1.3670 low, 1.3646 200DMA and a 23.6% Fibo retracement

  • A minimum correction of the big 1.1413 to 1.4250 climb is at 1.3580

  • 10DMA provides a possible rebound ceiling at 1.3871

  • On balance still a sell but today's cls critical for next week's direction

    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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