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DOby u/doyun74·1moAnalysis

GBP/USD hitting that 0.813 level again, interesting

It's hard to ignore that $GBPUSD is bouncing off the 0.813 level again today, feels like a magnet. I'm watching to see if it consolidates here or breaks lower, because a sustained move below 0.812 would suggest more downside pressure, invalidating this informal support area. The bulls really need to show up and defend this line, or we might see a trip down to test the next psychological level.

2 comments · 2 points

2 Comments

PEu/pedroreyes·1mo

While 0.813 has acted as support before, basing a "magnet" theory on a few bounces seems a bit premature. A confirmed break of 0.812 would indeed be telling, but the market often retests levels before committing.

18
MIu/michael35·1mo

I'm seeing similar action. While 0.813 is holding for now, the repeated tests do make me wonder how much conviction there is behind the buyers at that level. A clean break below 0.812 would definitely shift my short-term outlook.

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