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GBPUSD bearish in short-term; prices falling in down sloping channel
GBPUSD is in a downtrend in the short-term after falling from the June 30 high of 1.3029. The risk remains to the downside as the market is falling in a down sloping channel on the 4-hour chart. The RSI indicator is below 50, which also asserts the bearish bias in the market. However, the indicator has flattened out, suggesting downside momentum has faded, leading to consolidation in the near-term or possibly a pullback in prices. GBPUSD has found support in the 1.2860 area. This is the 38.2% Fibonacci retracement level of the upleg from 1.2588 to 1.3029. Should this level fail to hold and prices break below the ... (full story)
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- Jul 11, 2017 7:38am Jul 11, 2017 7:38am
- digit1288
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- a16908
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- digit1288
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- a16908
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- sonyclan
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.