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Mar 06 - 02:55 AM

GBP/USD - Weekly Cloud Could Weigh Heavily On Price

By Peter Stoneham  —  Mar 06 - 02:05 AM
  • Strong Friday close allowing us to raise our long stop to entry

  • We target 1.2120 and will raise the stop again on a weekly cloud breach

  • Early pullback from 1.2045: stalling at a daily trend res. line, 1.2042

  • Daily momentum remains negative and RSI neutral

  • A falling weekly cloud a big risk to the long play

  • Cloud base at 1.2073 and a failure here to force us to cut our long

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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