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Thomson Reuters
Aug 03 - 05:00 AM
GBP/USD - Bulls Gear Up For Recovery To Key Fibo Near 10-DMA
First appeared on eFXplus on Aug 03 - 02:45 AM
  • Near-term recovery towards 1.3110 Fibo, before underlying downtrend resumes
  • 1.3110 is a 50% retrace of the 1.3213 to 1.3006 fall, close to the 10-DMA
  • Outlook fragile after Thursday's 106 pip one-day fall, biggest since July 17
  • Fourteen-day momentum still negative, reinforcing the bearish bias
  • BOE sparks cable volatility, 2018's 6th biggest one-hour range nL1N1UT0JU
  • Trump a potent tool against a strong dollar nL1N1US23M

GBP/USD Trader:

Daily Bollinger Chart: Click here

EUR/GBP Trader:

Source:
Thomson Reuters IFR Markets

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