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Nov 08 - 02:55 AM

GBP/USD - Rejected At Trend Resistance; Risk To Cloud Top

By Peter Stoneham  —  Nov 08 - 01:50 AM
  • Daily trend resistance off the August 1.2277 high is holding gains

  • Price tops out at 1.1541 Monday, trend line today at 1.1546

  • Above the trend line and Oct. 26 1.1638 high the pivotal resistance

  • Risk of a return to the daily cloud top, currently 1.1309

  • Dec. 5 cloud twist below 1.1200 could begin to drag on price

  • We lean bearish and will monitor any further rebounds

    For more click on FXBUZ













Source:
Refinitiv IFR Research/Market Commentary

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