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May 07 - 04:55 AM

GBP/USD - At Cloud Top Cross Roads But Hope For Bulls

By Peter Stoneham  —  May 07 - 02:52 AM
  • Direction clouded as market indecision takes hold of sterling

  • Weekly action provides hope for bulls: negating prev bear weeks

  • Our 1.3840 long play now cost free but progress very slow

  • Loss of 14 day bull momentum a concern, flips to negative

  • Daily RSI is flat lining in neutral territory

  • Price continues to consolidate around the daily cloud top, 1.3903

  • Thursday range extremes provide key levels, 1.3859-1.3942

    For more click on FXBUZ

GBP/USD Trader:

GBP/USD daily candle chart: Click here

GBP/USD weekly candle chart: Click here

Refinitiv IFR Research/Market Commentary


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