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Sep 26 - 03:48 AM
GBP/USD - Drop Into Daily Cloud Gives Bears An Advantage
First appeared on eFXplus on Sep 26 - 02:10 AM
  • Clear drop into the daily cloud Wednesday and a 1.2349 low

  • Have lowered our 1.2463 short stop to entry but maintain a 1.2285 target

  • A bear warning given by daily momentum, which rebounds from zero

  • Daily slow stoch still falling but speed of decline slowing

  • Bears now need a breach of the 21DMA line, today at 1.2346

  • 55DMA and daily cloud base below at 1.2303 and 1.2215 respectively

  • Still watching a cloud twist at 1.2268-73 out to Oct 21









GBP/USD Trader:

GBP/USD Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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