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Aug 14 - 04:55 AM

GBP/USD - FX Traders Have A New Stumbling Block

By Peter Stoneham  —  Aug 14 - 02:35 AM
  • A fairly balanced market within an established 1.2982-1.3185 range

  • However, 1.3200 proved tough and now air above 1.31 too thin for bulls

  • 14-day bull momentum beginning to diverge and RSI losing altitude

  • Potential back to back weekly doji candles also a warning to bulls

  • Supports at weekly cloud top 1.2902 and 1.2915, 200DMA

  • However, weekly cloud twist below market at 1.2719: matches 50% Fibo

  • Key Fibo reading taken off the 1.2252 to 1.3185 climb















GBP/USD Trader:

GBP/USD daily candle chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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