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GBP/USD rally stalled at key fibo

Wed's rally halted at 1.5480, just 1 pip ahead of the 1.5481 23.6% fibo 1.5481 = 23.6% of the 1.7192/1.4952 decline from Jul 2014/Jan 2015 Below this fibo stay with the short trade Trend indicators close to overbought le…

By Meredith J C Warren
1 min read
GBP/USD rally stalled at key fibo
Image from the original EconoTimes article
  • Wed's rally halted at 1.5480, just 1 pip ahead of the 1.5481 23.6% fibo

  • 1.5481 = 23.6% of the 1.7192/1.4952 decline from Jul 2014/Jan 2015

  • Below this fibo stay with the short trade

  • Trend indicators close to overbought levels

  • Could signal a short-term top

 

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