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Mar 25 - 06:55 AM

GBP/USD's Recent Slump Puts A Key Fibo At Risk

By Martin Miller  —  Mar 25 - 04:45 AM
  • GBP/USD's slump under the daily cloud, that spans narrow 1.2630-63 region

  • Scope is growing for a break under the 1.2567 Fibo

  • 1.2567 Fibo is a 38.2% retrace of the 1.2039-1.2893 (Oct-Mar) EBS rise

  • A daily close below which will weaken the market structure further

  • Only a break back above the daily cloud would shift the bias to the upside

  • GBP/USD Trader TGM2338

Source:
Refinitiv IFR Research/Market Commentary

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