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Sep 08 - 04:55 AM

GBP/USD - Chart Negative Despite Rebound From New Multi-Year Low

By Martin Miller  —  Sep 08 - 03:00 AM
  • GBP/USD dropped to break 2020 1.1413 low, it hit the lowest level since 1985

  • Mkt briefly traded to 1.1407, according to Refinitiv data, before recovering

  • 14-month momentum remains negative, reinforcing the long-term bearish market

  • Risk remains for an eventual break under the 1.1400 psychological level

  • We are looking to get short at 1.1650 in an attempt to fade recovery moves

  • GBP/USD Trader TGM2338. Previous update nL1N30E0LD

Source:
Refinitiv IFR Research/Market Commentary

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