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Apr 11 - 07:55 AM

GBP/USD - Corrective Risk Increasing But Trend Is Strong

By Peter Stoneham  —  Apr 11 - 05:55 AM
  • Signs that the bear run from March 23 1.3299 is beginning to stall

  • Long lower candle shadows hint at supply fade

  • However, while below 1.3089, 10DMA, the risk remains skewed bearside

  • March close under 1.3166, Fibo off 1.1413-1.4250, a strong bear signal

  • Negative monthly momentum adds to the downside bias

  • Fading a corrective rebound a strategy: we will monitor

    For more click on FXBUZ
















GBP/USD Trader:

GBP/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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