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GBP/USD weighed by false fibo break on Monday

  • Pair saw false break of the 76.4% fibo of Jan 1.5588/1.4952 decline at 1.5438 on Monday

  • Successive pullback pressured overnight at 1.5339

  • Slow stochs rise in overbought territory

  • Negative cross gives a sell signal

  • Switched to a sell, using rallies back to 1.5441 to get short for short-term trade

  • The 200 HMA provides support at 1.5306

 

  • Market Data
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