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Feb 05 - 02:55 AM

GBP/USD - Cloud Breaks Put The Downside Back In Focus

By Peter Stoneham  —  Feb 05 - 01:45 AM
  • Key day and bearish engulfing line Friday puts the downside back in focus

  • GBP drops into both daily and weekly clouds

  • Nov last time GBP clear below the weekly cloud top

  • Early Mon low of 1.2599 and bears looking to the next big support point

  • The 200-day moving average is at 1.2564

  • Having been stopped out of our 1.2695 short we look to sell again

  • Hourly resistance provides a fade level at 1.2643

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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