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Nenad Kerkez
GBP/USD

The GBP/USD is a bit overbought. The price hasn’t made any substantial retracement since touching the high at 3750.

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Lower high on the chart suggest a pullback to 88.6 fib. If bears take over the bulls, we should see another drop and a retest of Friday lows. Failure to close below Friday low might make bulls stronger. At this point the POC 3705-15 should reject the price down towards 1.3660 and 1.3620. Only a break of 1.3750 will make this scenario invalid.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

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