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Derived real-time data in partnership with:
Thomson Reuters
Apr 29 - 05:00 AM
GBP/USD - Bulls Face Massive Hurdles And Dark Cloud Cover
First appeared on eFXplus on Apr 29 - 02:40 AM
  • Thurs-Frid bull reversal pattern did not complete but a positive Mon open
  • Major resistance points lined up just above mkt, daily, weekly and monthky
  • Converged 10, 100 and 200DMAs at 1.2962 and 21DMA and cloud base at 1.3025
  • Daily cloud is thinning and has a twist out to May 28 at 1.3075
  • However, weeklies remain bearish with a thickening, falling cloud overhead
  • Into the Apr close and monthly still points to 1.2780, 61.8% 1.2409-1.3380

GBP/USD Trader

GBP/USD Daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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