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Nov 08 - 03:48 AM
GBP/USD - Significant Cloud Rejection Keeps Bears In Play
First appeared on eFXplus on Nov 08 - 01:55 AM
  • Firm rejection at weekly cloud a major bearish pointer: sub-1.2815 cls key

  • Weak Thurs close but the October 24 1.2790 low remains intact

  • Need a break below 1.2790 to fire up the bear engines

  • Initial range break target comes at 1.2780 pivot point then 55WMA at 1.2746

  • The real game changer being the 200DMA at 1.2705 despite its flat plane

  • 14-day negative momentum holding for second session and RSI falling









GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

GBP/USD Weekly Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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