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Jul 01 - 04:55 AM

GBP/USD - Strong Rebound But Bears Are Not Done Yet

By Peter Stoneham  —  Jul 01 - 02:35 AM
  • A stronger rebound from just inside the daily cloud Tues and bull close

  • 10DMA at 1.2403 just shutting the door on early Wed gains

  • 14-day negative momentum fading but still points to bearish advantage

  • Fading up-ticks to the 21DMA, 1.2520, favoured

  • Daily cloud remains pivotal support, currently 1.2289 and rising

  • Conflicting weekly candles cloud direction: hammer potential this week













GBP/USD Trader:

GBP/USD daily Ichimoku chart: Click here

GBP/USD weekly candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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