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Feb 02 - 02:55 AM

GBP/USD Thursday Shake Out Leaves Sterling In Better Shape

By Peter Stoneham  —  Feb 02 - 02:05 AM
  • Late Thursday rally took our short play from profit to stop loss

  • Looks like we may have picked the top for the 1.2755 stop

  • Sterling had fallen deep inside the daily cloud, recording a 1.2625 low

  • Fourteen day momentum is still bumping along the zero line

  • Trend resistance off the 1.2825 Dec high is intact at 1.2757

  • Bear bias badly shaken and further gains can't be ruled out

  • We lean bearish but will wait for fresh signals

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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