By Christopher Romano — Apr 17 - 12:30 PM
GBP/USD's overnight rally stalled at 1.2438, the pair then turned negative
The falling 10-DMA which sits 1.2440 helped to repel GBP/USD bulls
GBP/USD struck a 5-session low after hitting the session high
Support sits at the April 10 daily low which sits at 1.2346
Daily RSI is falling & not oversold, implies downside momentum in place
A break of that daily low should trigger stops, complete a double top
GBP/USD shorts then likely target the 1.2150 area and daily cloud top
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Source:
Refinitiv IFR Research/Market Commentary