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Nov 12 - 03:48 AM
GBP/USD - Loss Of Bullish Momentum Weakens Push To 1.2900
First appeared on eFXplus on Nov 12 - 02:00 AM
  • Gain consolidation just below Mon's 1.2896 peak and below 10-21-DMAs

  • 14-day momentum remains negative and RSI struggles to confirm the bounce

  • While below the 1.2916 weekly cloud base the risk is skewed to the downside

  • A fade in the 1.2890s with a tight stop above 1.2920 could work

  • Below 1.2769 and all bull bets are off and the 200DMA 1.2725 is back in play

  • We await stronger signals but might consider a short on a failure at 1.2900









GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

GBP/USD Weekly Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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