GBP/USD – Bears reinforced, retreat to 1.3060 likely
Pair’s sharp drop to below 1.32 (and minor rising trend line level) adds credence to the bearish dark cloud cover formation noted last week and open doors for a retreat to 1.3059 (Aug 30 low).
On the higher side, only a move back above 1.3347 (Sep 12 high) would signal bearish invalidation.
On the higher side, only a move back above 1.3347 (Sep 12 high) would signal bearish invalidation.
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