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Nov 13 - 01:55 PM

GBP/USD - Bounce Might Have Given Bears Their Chance

By Christopher Romano  —  Nov 13 - 12:00 PM
  • Drop from the Nov 11 peak, 76.4% Fib 1.3481-1.2676 thwarted by the 10-DMA

  • GBP/USD bounces off the 10-DMA today & daily RSI turns up

  • Rally stalls short of structural resistance near 1.3185/95 though

  • Rally reversal near 76.4% Fib could mean recent correction is over

  • Bears likely looking to sell rallies likely got a chance to do so today

  • Test of the trend line off June's low, daily cloud base still likely

  • For more click on FXBUZ








gbp/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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