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Oct 09 - 12:12 PM
GBP/USD - Stops May Be Sheltering Below Fibo Support Level
First appeared on eFXplus on Oct 09 - 10:05 AM
  • Some cable stops may be sheltering below Tuesday's five-week low of 1.2196

  • 1.2196 is also a 61.8% Fibo of 1.1959 (Sept 3 low) to 1.2582 (Sept 20 high)

  • GBP/USD threatened 1.2196 in early European trade, before jumping to 1.2292

  • See: nL5N26U2KR. The retreat from 1.2292 based 10 pips shy of 1.2196

  • 1.2215-1.2235 defines the range since 7am ET (1.2238 was Tuesday's NY high)

  • Merkel and Macron to meet before crunch Brexit summit next week nL5N26U0QG

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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