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Chart Of The Day: GBP/USD

Published 10/19/2021, 06:17 PM
Updated 07/09/2023, 06:31 AM

GBP/USD Daily Chart.

GBP/USD is within close proximity of the 200-day moving average, and just below today's highs at the 50% retracement at the 1.3829 level.

Overnight, the risk may be for a probe into the 200-day moving average, but the bears may attempt to hold the 200-day moving average to keep Sterling holding lower highs, which in essence is keeping the bearish trend in tact near term. A move below the 1.3700 level would mean the corrective bounce is now over. 

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