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Mar 24 - 05:00 AM

GBP/USD - Sellers Need To Keep An Eye On Weekly Action

By Peter Stoneham  —  Mar 24 - 03:10 AM
  • Alternating bull bear sessions clouding daily direction

  • Weekly doji potential suggests bears losing momentum: supply fade

  • A messy bearish continuation pattern keeping the downside in focus

  • A move above 1.1955 to negate the pattern

  • Retrace levels off Mar 1.3200-1.1413 drop at 1.1835-1.2096, 23.6%- 38.2%

  • Fading 1.1835 a strat but extreme volatility leaves us side lined for now









GBP/USD Trader:

GBP/USD Daily Chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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