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Mar 22 - 06:55 AM

GBP/USD - Eyes Fibo Resistance After Rallying Off Six-Day Low

By Rob Howard  —  Mar 22 - 05:02 AM
  • Cable eyes 1.3871 after pushing recovery envelope from 1.3819 (Asia low)

  • 1.3871 = 38.2% Fibo of 1.3956 (Friday's high) to 1.3819 (low since March 16)

  • Obstacles beyond 1.3871 include 1.3886 (rally high from 1.3830) and 1.39

  • 1.3830 was Friday's low as UST yields jumped on Fed's SLR news nL1N2LH155

  • Brexit reality stokes fears for the peace in Northern Ireland nL8N2LG7NS

  • Net GBP long held by IMM speculators falls to four-week low nL8N2LG7NS

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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