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Sep 13 - 04:55 AM

GBP/USD - Looking To A 200DMA Safety Net Versus The Dollar

By Peter Stoneham  —  Sep 13 - 02:50 AM
  • Sterling bears look set to test the 200-day moving average: 1.2431

  • Last time price below the average was in March

  • The average is fairly flat, which reduces its significance

  • Fourteen day negative momentum is fading and RSI near over sold levels

  • If the 200DMA holds the line a period of sideways action likely

  • We still see risk to the low 1.24s

  • Will look for better shorting opportunities

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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