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Apr 17 - 01:55 PM

GBP/USD - One Impediment Helps Put Another In Jeopardy

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

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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