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Jan 24 - 06:55 AM

GBP/USD - Fresh Wave Of Weakness Targets 10-Day Moving Average

By Peter Stoneham  —  Jan 24 - 05:20 AM
  • A new pullback low of 1.2308 and bears eye the 10DMA, 1.2296

  • The 10-DMA has contained weakness since Jan. 6

  • Our 1.2430 short stop lowered to 1.2380 and target raised to 1.2210

  • Our target now set ahead of the daily cloud top, 1.2180

  • Momentum and RSI readings favour the downside

  • A minimum correction of the 1.1842-1.2447 climb is at 1.2304

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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