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Dec 12 - 11:00 PM
GBP/USD - Charts Say Higher - But Over Stretched Short Term
First appeared on eFXplus on Dec 12 - 08:05 PM
  • Consolidates the 2.2% bounce on a likely landslide Johnson win nL8N28M6XR

  • Charts remain very positive with 5, 10 & 21 daily & wekly MAs trending north

  • Trades around 1.3453, 61.8% of the 2018/2019 fall, after touching 1.3516

  • Close key for next week, above 1.3453 targets 1.3806, 76.4%, 2018/19 dip

  • Close below 1.3453 61.8% would leave a top in place at 1.3516

  • Rising 21 day upper Bolli band at 1.3321 suggests GBP overdone short term

  • Longer term the 21 day daily Bollinger bands are supportive

























gbp3 dec 13 Click here

Source:
Refinitiv IFR Research/Market Commentary

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