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Oct 10 - 07:55 AM

GBP/USD - Bids Stall The Slide But Bearish Die Is Cast

By Peter Stoneham  —  Oct 10 - 06:10 AM
  • Another marked deterioration in the daily chart and Fibo support cedes

  • Next retracement level, 50% of the 1.0327-1.14936 climb, comes at 1.0910

  • Some bidding interest emerged at the 1.1027 low but bearish die is cast

  • Last week's long upper candle shadow could be pivotal

  • Previous week's hammer all but negated, losing technical significance

  • Fading rebounds, a strategy but we prefer to wait for stronger signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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