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GBPUSD sellers reestablish control after move higher fails

The GBPUSD is lower on the day after a move back above the 50% retracement in the European session (at 1.2866). The price has rotated back to the downside funding support near the 1.28000 level, but staying below the 50% midpoint level as well.In trading today, it would now take a move below the 1.28000 level (and the 61.8% retracement of the move up from the June 29 low at 1.2801) to increase the bearish bias. The 50% midpoint now is the risk level. Before that, watch the 1.2835 – 1.28486 area... Read More

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Content Topics

Gbpusd

Sellers

Reestablish

Control

After

Move

Higher

Fails

Forex

Posted: Jul 24 2023, 14:37

Author Name: forexlive

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