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Oct 11 - 03:55 AM

GBP/USD - Bid Holding But Beginning To Look Stretched

By Peter Stoneham  —  Oct 11 - 02:50 AM
  • Sterling gains stalling just ahead of a 38.2% Fibo at 1.2309

  • Tempted to take a counter trend short, playing an adjustment

  • Will look for over bought indications before jumping in

  • Fourteen day momentum still poised to flip positive

  • Daily RSI is flattening out at neutral levels

  • Mixed signals but market could be looking a little top heavy

  • Possibly potential for a run back to the 10DMA, currently 1.2194

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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