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Aug 04 - 05:55 AM

GBP/USD - Above The Daily Cloud, Key Fibo, Would Be Very Bullish

By Martin Miller  —  Aug 04 - 03:48 AM
  • GBP/USD has so far failed to overcome the thickening daily cloud

  • The cloud currently spans the 1.3956-1.4018 region

  • A break above the cloud is needed to keep the overall bias on the upside

  • A close above the 1.3991 Fibo would markedly increase the upside potential

  • 1.3991 Fibo is a 61.8% of the 1.4250 to 1.3573 (June to July) EBS fall

  • Pound set to rise in August, breaking its usual pattern nL1N2PA0LC

  • GBP/USD Trader TGM2338. Previous update nL1N2PA0NV

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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