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Nov 10 - 07:55 AM

GBP/USD - Finding Traction Following Wednesday Slide

By Peter Stoneham  —  Nov 10 - 05:40 AM
  • Sterling returns to the middle of its recent range having peaked at 1.1595

  • A slight bull bias developing intraday following sharp Wed losses

  • Wed 1.1562 high the initial resistance of note

  • Daily cloud top, 1.1309, and cloud twist, 1.1131-69, now look pivotal

  • 14-day positive momentum has faded but RSI yet to confirm price drop

  • We lean bearish and will monitor any test of the cloud

  • Weekly chart shows a long upper candle shadow, hinting at demand fade

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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