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Jul 19 - 03:55 AM

GBP/USD - FX Traders Building For A Range Break

By Peter Stoneham  —  Jul 19 - 02:25 AM
  • July lows and a range break on sterling bears' shopping list this week

  • Below July 2 1.3734 low and key 200DMA comes into view, currently 1.3698

  • Big down day Friday not yet forcing an adjustment

  • Price has not been below the 200DMA, on closing basis, since July 2020

  • 14-day negative momentum fading slightly but RSI confirming weakness

  • August 2 1.3983-88 cloud twist noted but not influencing yet

  • Downside risk increasing, we lean bearish

    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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