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Dec 19 - 01:55 PM

GBP/USD - Longs Are In A Bit Of A Pickle

By Christopher Romano  —  Dec 19 - 11:45 AM
  • After falling sharply Dec. 15 GBP/USD bounces have been very shallow

  • Today's bounce was capped near the 10-DMA, had been support on the rally

  • GBP/USD now consolidating the recent fall while between 10- & 21-DMAs

  • Monthly inverted hammer candle is another concern for GBP/USD bulls

  • November's monthly high remains am impediment for GBP/USD shorts

  • Consolidation is likely to resolve with a move to the downside

  • Supports near 1.1900 and 1.1750 will them become targets

  • For more click on FXBUZ





Source:
Refinitiv IFR Research/Market Commentary

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