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Nov 19 - 03:55 AM

GBP/USD - Continued Trading Above A Key Fibo Hints At A Recovery

By Martin Miller  —  Nov 19 - 03:18 AM
  • GBP/USD recently closed and remains above the 1.3467 Fibo

  • 1.3467 Fibo: 23.6% retrace of the 1.3834 to 1.3354 (Oct to Nov) drop

  • Increasingly the odds for much bigger recovery moves in coming sessions

  • 1.3537 Fibo: 50% retrace of the same 1.3834 to 1.3354 drop

  • We remain long at 1.3365 for gains to 1.3580 target, trailing stop at 1.3450

  • GBP/USD Trader TGM2338

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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