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Oct 01 - 02:36 PM
GBP/USD - Swift Turn Gives Reversal Potential
First appeared on eFXplus on Oct 01 - 01:15 PM
  • Swift turn in the market having dipped under the daily cloud

  • Counter trend 1.2227 long sufficiently in the money to raise stop to entry

  • As price stands a tidy hammer candle (bullish): rebound high 1.2340

  • The bull signal would need confirmation from a positive Wed close

  • Upside targets at 1.2367, 21DMA, and 1.2396 converged cloud top and 10DMA

  • Back below the cloud and all bull bets are off









GBP/USD Trader:

GBP/USD Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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