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Aug 06 - 06:12 AM
GBP/USD - Squeeze Higher Likely To Be Halted Near Key Fibo
First appeared on eFXplus on Aug 06 - 04:25 AM
  • Scope is for a resumption of losses to 2017 1.1983 low in coming sessions
  • Our offer remains at 1.2245, ahead of 1.2246 Fibo and July 31 1.2250 peak
  • 1.2246 Fibo is a 23.6% retrace of the 1.2784-1.2080 2019 drop
  • Downtrend paused since Thu's 1.2080 low and July 29 biggest one-day fall
  • Underlying bias remains on the downside, these gains are just corrective
  • EUR/GBP remains well above key Fibo, bulls eye the 2017 peak

GBP/USD Trader:

Daily Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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